Crane (CR) Set to Announce Quarterly Earnings on Monday

Crane (NYSE:CR) will announce its earnings results after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Crane has set its FY24 guidance at $4.55-4.85 EPS and its FY 2024 guidance at 4.550-4.850 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Crane (NYSE:CR) last issued its earnings results on Monday, January 29th. The conglomerate reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $532.90 million for the quarter, compared to analysts’ expectations of $519.55 million. On average, analysts expect Crane to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Crane Stock Up 0.1 %

CR stock opened at $129.54 on Friday. 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 twelve month low of $67.28 and a twelve month high of $139.34. The company’s 50 day moving average is $129.57 and its two-hundred day moving average is $114.60. The stock has a market cap of $7.40 billion, a P/E ratio of 35.11, a PEG ratio of 1.93 and a beta of 1.49.

Crane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.82 dividend on an annualized basis and a yield of 0.63%. This is a boost from Crane’s previous quarterly dividend of $0.18. Crane’s dividend payout ratio (DPR) is presently 22.22%.

Hedge Funds Weigh In On Crane

Institutional investors have recently modified their holdings of the business. Harbour Investments Inc. increased its holdings in shares of Crane by 100.0% in the 2nd quarter. Harbour Investments Inc. now owns 2,348 shares of the conglomerate’s stock valued at $171,000 after acquiring an additional 1,174 shares during the period. Covestor Ltd grew its position in Crane by 92.5% in the 1st quarter. Covestor Ltd now owns 1,511 shares of the conglomerate’s stock valued at $164,000 after buying an additional 726 shares during the last quarter. Systematic Financial Management LP purchased a new position in Crane in the 1st quarter valued at $147,000. NewEdge Advisors LLC grew its position in Crane by 18.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,153 shares of the conglomerate’s stock valued at $131,000 after buying an additional 180 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Crane by 14.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock valued at $116,000 after buying an additional 133 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CR. StockNews.com cut shares of Crane from a “buy” rating to a “hold” rating in a report on Friday. Bank of America raised their price objective on shares of Crane from $110.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus raised their price objective on shares of Crane from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.00.

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.