Crane (CR) to Issue Quarterly Dividend of $0.23 on March 12th

Crane (NYSE:CR) declared a quarterly dividend on Monday, January 27th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.23 per share by the conglomerate on Wednesday, March 12th. This represents a $0.92 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Crane’s previous quarterly dividend of $0.21.

Crane has a dividend payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Price Performance

Shares of NYSE:CR opened at $175.64 on Wednesday. Crane has a fifty-two week low of $110.49 and a fifty-two week high of $188.52. The business has a 50-day simple moving average of $163.64 and a two-hundred day simple moving average of $158.67. 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 cap of $10.05 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

Crane (NYSE:CR) last issued its earnings results on Monday, January 27th. The conglomerate reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. Crane had a return on equity of 24.45% and a net margin of 13.10%. During the same period last year, the business posted $0.90 earnings per share. On average, analysts expect that Crane will post 7.87 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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 research note on Thursday, October 3rd. Stifel Nicolaus decreased their target price on shares of Crane from $176.00 to $170.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, UBS Group raised their target price on shares of Crane from $152.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.80.

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.