Crane (NYSE:CR) issued its quarterly earnings data on Sunday. The conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.31 by $0.35, MarketWatch Earnings reports. Crane had a net margin of 0.71% and a return on equity of 18.09%. The firm had revenue of $833.50 million during the quarter, compared to analysts' expectations of $771.33 million. During the same quarter in the previous year, the company earned $1.15 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis.
Shares of CR opened at $94.74 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.56. Crane has a twelve month low of $44.23 and a twelve month high of $97.31. The stock has a market capitalization of $5.51 billion, a P/E ratio of 249.32 and a beta of 1.65. The company has a 50 day moving average of $94.28 and a 200-day moving average of $79.18.
CR has been the subject of a number of research analyst reports. Vertical Research raised Crane from a "hold" rating to a "buy" rating in a research note on Thursday, January 7th. Canaccord Genuity lifted their price target on shares of Crane from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, March 10th. Zacks Investment Research upgraded shares of Crane from a "sell" rating to a "hold" rating and set a $80.00 price objective on the stock in a report on Thursday, January 28th. Finally, DA Davidson lowered shares of Crane from a "buy" rating to a "neutral" rating and upped their target price for the stock from $75.00 to $80.00 in a research note on Thursday, January 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. The stock has an average rating of "Buy" and a consensus target price of $83.25.
In related news, CFO Richard A. Maue sold 15,822 shares of the stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $83.12, for a total transaction of $1,315,124.64. Following the completion of the transaction, the chief financial officer now owns 93,075 shares in the company, valued at $7,736,394. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.60% of the company's stock.
About Crane
Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.
See Also: What are the benefits of buying treasury bonds?
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]
Featured Article: How to Invest in Marijuana Stocks
7 Stocks to Buy For the Gig EconomyBefore the global pandemic, it was referred to as a side hustle—a way for some individuals to make a little extra money. However, as the pandemic has changed the nature of how we work, and as consumers how we spend, the gig economy has become an essential way of life for many workers.
There is much that’s not known about the long-term effects of the pandemic. But if there’s one lesson we learn from history, it’s that there will be ripple effects. We believe that society will get back to something resembling normal. However, what that normal looks like may be different.
Americans were becoming less social since before the pandemic. Now consumers have begun to realize there truly is no reason to leave their house to shop for anything. And while many crave physical connection during these times, there will be many that have changed their purchasing habits for good.
Other elements of the gig economy, such as ride-hailing and home rentals, were devastated due to the pandemic. Those businesses are likely to come back.
And that’s why companies that have created the gig economy aren’t going away anytime soon. In this special report, we’ll highlight several stocks that investors should consider as the gig economy moves forward.
View the "7 Stocks to Buy For the Gig Economy".
