Crane to Post Q2 2024 Earnings of $1.23 Per Share, DA Davidson Forecasts (NYSE:CR)

Crane (NYSE:CR - Free Report) - DA Davidson issued their Q2 2024 EPS estimates for shares of Crane in a research report issued on Wednesday, April 24th. DA Davidson analyst M. Summerville forecasts that the conglomerate will post earnings of $1.23 per share for the quarter. DA Davidson currently has a "Buy" rating and a $160.00 target price on the stock. The consensus estimate for Crane's current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane's FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

Crane (NYSE:CR - Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $565.30 million during the quarter, compared to the consensus estimate of $546.39 million. During the same quarter in the prior year, the firm earned $1.25 EPS. Crane's quarterly revenue was up 10.0% on a year-over-year basis.

A number of other equities research analysts have also recently commented on CR. Bank of America increased their price objective on shares of Crane from $110.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, March 5th. Vertical Research raised shares of Crane from a "hold" rating to a "buy" rating in a research note on Wednesday. StockNews.com cut shares of Crane from a "buy" rating to a "hold" rating in a research note on Friday, April 19th. Finally, Stifel Nicolaus increased their price objective on shares of Crane from $150.00 to $157.00 and gave the company a "buy" rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crane currently has an average rating of "Moderate Buy" and a consensus target price of $137.00.

Crane Price Performance

NYSE CR traded up $1.86 during trading hours on Thursday, reaching $143.99. The company's stock had a trading volume of 400,763 shares, compared to its average volume of 245,201. The stock has a market cap of $8.22 billion, a PE ratio of 39.02, a PEG ratio of 1.93 and a beta of 1.49. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $145.80. The company's 50-day moving average is $130.37 and its two-hundred day moving average is $115.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CR. Congress Asset Management Co. MA lifted its holdings in shares of Crane by 120.5% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,316,245 shares of the conglomerate's stock worth $116,935,000 after acquiring an additional 719,408 shares during the period. Norges Bank purchased a new position in shares of Crane during the 4th quarter worth about $59,659,000. Kennedy Capital Management LLC purchased a new position in shares of Crane during the 3rd quarter worth about $21,302,000. Capital International Investors lifted its holdings in shares of Crane by 44.7% during the 4th quarter. Capital International Investors now owns 663,221 shares of the conglomerate's stock worth $78,353,000 after acquiring an additional 204,924 shares during the period. Finally, JS Capital Management LLC raised its holdings in Crane by 98.0% in the third quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate's stock valued at $35,536,000 after buying an additional 198,000 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.205 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. Crane's payout ratio is currently 22.22%.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.