S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20
S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20
S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20
S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20

Zacks: Brokerages Anticipate Crane Co. (NYSE:CR) Will Announce Quarterly Sales of $745.85 Million

Last updated on Saturday, November 27, 2021 | 2021 MarketBeat

Wall Street analysts expect that Crane Co. (NYSE:CR) will post sales of $745.85 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Crane's earnings, with the highest sales estimate coming in at $752.00 million and the lowest estimate coming in at $739.70 million. Crane posted sales of $726.40 million during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The firm is expected to issue its next earnings report on Monday, January 24th.

According to Zacks, analysts expect that Crane will report full year sales of $3.16 billion for the current year, with estimates ranging from $3.15 billion to $3.16 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.41 billion, with estimates ranging from $3.36 billion to $3.47 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Crane.

Crane (NYSE:CR) last posted its quarterly earnings results on Sunday, October 24th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.53. The business had revenue of $833.50 million for the quarter, compared to the consensus estimate of $770.61 million. Crane had a return on equity of 22.61% and a net margin of 12.86%. The business's revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 EPS.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Crane from a "sell" rating to a "hold" rating and set a $107.00 price target for the company in a research report on Wednesday, October 27th. DA Davidson boosted their price objective on Crane from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, October 26th. They noted that the move was a valuation call. BMO Capital Markets upgraded Crane to an "outperform" rating in a research report on Monday, September 27th. Finally, Bank of America started coverage on Crane in a report on Wednesday, September 8th. They issued a "buy" rating and a $123.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Crane currently has a consensus rating of "Buy" and a consensus target price of $113.75.

Shares of NYSE:CR opened at $100.09 on Friday. Crane has a 52-week low of $69.22 and a 52-week high of $108.67. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.82 and a beta of 1.71. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $98.87 and a 200-day moving average price of $96.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 8th. Stockholders of record on Tuesday, November 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, November 29th. Crane's dividend payout ratio (DPR) is 24.82%.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Crane by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,655,261 shares of the conglomerate's stock valued at $430,007,000 after acquiring an additional 99,228 shares during the period. FMR LLC raised its stake in Crane by 36.4% during the 2nd quarter. FMR LLC now owns 3,880,732 shares of the conglomerate's stock valued at $358,464,000 after purchasing an additional 1,035,943 shares during the period. Victory Capital Management Inc. raised its stake in Crane by 16.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,971,723 shares of the conglomerate's stock valued at $182,128,000 after purchasing an additional 280,241 shares during the period. LSV Asset Management grew its holdings in shares of Crane by 17.2% during the 3rd quarter. LSV Asset Management now owns 1,600,985 shares of the conglomerate's stock valued at $151,789,000 after acquiring an additional 235,006 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Crane by 10.1% during the 2nd quarter. State Street Corp now owns 1,269,585 shares of the conglomerate's stock valued at $117,272,000 after acquiring an additional 115,962 shares in the last quarter. Hedge funds and other institutional investors own 70.68% of the company's stock.

About Crane

Crane Co engages in the manufacturing of engineered industrial products. It operates through the following business segments: Fluid Handling; Payment and Merchandising Technologies; Aerospace and Electronics; and Engineered Materials. The Fluid Handling segment provides industrial fluid control products and systems.

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