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.
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.
Read More: Why are analyst ratings important in trading stocks?
Get a free copy of the Zacks research report on Crane (CR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Crane, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crane wasn't on the list.
While Crane currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here