Crane (NYSE:CR) Posts Earnings Results, Beats Expectations By $0.06 EPS

Crane (NYSE:CR) announced its quarterly earnings data on Monday. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06, Briefing.com reports. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Crane updated its FY24 guidance to $5.05-$5.20 EPS and its FY 2024 guidance to 5.050-5.200 EPS.

Crane Trading Up 2.0 %

NYSE CR traded up $3.13 during trading on Wednesday, hitting $161.97. The company had a trading volume of 435,224 shares, compared to its average volume of 233,000. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a one year low of $93.53 and a one year high of $163.48. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The company’s fifty day moving average is $154.58 and its 200-day moving average is $148.55.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.82 annualized dividend and a yield of 0.51%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research 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. According to MarketBeat, Crane currently has a consensus rating of “Moderate Buy” and a consensus target price 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.