Crane (NYSE:CR) Updates FY 2024 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 5.050-5.200 for the period, compared to the consensus earnings per share estimate of 4.260. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $1.5 billion. Crane also updated its FY24 guidance to $5.05-$5.20 EPS.

Crane Stock Up 2.5 %

Shares of CR stock traded up $3.85 on Tuesday, hitting $156.24. The stock had a trading volume of 93,623 shares, compared to its average volume of 230,090. Crane has a 52-week low of $91.35 and a 52-week high of $163.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 1.93 and a beta of 0.77. The stock’s 50 day moving average is $154.14 and its 200-day moving average is $148.29.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $597.20 million for the quarter, compared to the consensus estimate of $594.45 million. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts expect that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.52%. Crane’s dividend payout ratio (DPR) is 18.06%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.33.

About Crane

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.