Crane Company (CR) Updates FY17 Earnings Guidance

Crane Company (NYSE:CR) issued an update on its FY17 earnings guidance on Monday morning. The company provided EPS guidance of $4.35-4.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.51.

Shares of Crane Company (NYSE:CR) traded up 0.16% during mid-day trading on Friday, reaching $73.49. The company’s stock had a trading volume of 226,053 shares. Crane Company has a 52-week low of $59.81 and a 52-week high of $84.34. The company has a 50-day moving average price of $78.52 and a 200 day moving average price of $76.76. The company has a market cap of $4.38 billion, a PE ratio of 33.48 and a beta of 1.10.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.17. The business had revenue of $702.50 million during the quarter, compared to analyst estimates of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company earned $1.21 EPS. Equities analysts expect that Crane Company will post $4.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 31st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, August 29th. Crane’s payout ratio is 60.83%.

CR has been the subject of a number of research analyst reports. Canaccord Genuity raised Crane from a hold rating to a buy rating and raised their price target for the stock from $78.00 to $92.00 in a research note on Tuesday, May 16th. TheStreet raised Crane from a c+ rating to a b+ rating in a research note on Monday, April 24th. Zacks Investment Research raised Crane from a hold rating to a buy rating and set a $93.00 price target for the company in a research note on Monday, July 17th. ValuEngine raised Crane from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. reissued an outperform rating and set a $90.00 price target (up from $82.00) on shares of Crane in a research note on Monday, May 1st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $76.88.

In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of Crane stock in a transaction on Friday, August 4th. The stock was sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.10% of the company’s stock.

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About Crane

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

Earnings History and Estimates for Crane (NYSE:CR)

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