Crane (NYSE:CR) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Crane (NYSE:CR) posted its earnings results on Monday. The conglomerate reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10, Briefing.com reports. The company had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. Crane updated its FY24 guidance to $4.75-5.05 EPS and its FY 2024 guidance to 4.750-5.050 EPS.

Crane Stock Performance

Shares of CR stock opened at $138.27 on Wednesday. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 12-month low of $67.28 and a 12-month high of $139.54. The business has a 50 day simple moving average of $130.01 and a 200 day simple moving average of $115.65.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, May 31st. Crane’s dividend payout ratio (DPR) is 22.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America upped their target price on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Two investment analysts have 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.40.

Crane Company Profile

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.