Crane (NYSE:CR) Updates FY 2024 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.710-4.860 for the period, compared to the consensus earnings per share estimate of 5.160. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

CR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.00.

Crane Price Performance

Shares of NYSE:CR opened at $164.34 on Tuesday. Crane has a 12 month low of $110.20 and a 12 month high of $188.52. The firm has a market capitalization of $9.41 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company’s fifty day moving average price is $168.32 and its 200 day moving average price is $156.12.

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

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, November 29th. Crane’s dividend payout ratio (DPR) is presently 18.06%.

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.