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.

ILLEGAL ACTIVITY NOTICE: This piece was posted by BNB Daily and is owned by of BNB Daily. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/crane-company-cr-updates-fy17-earnings-guidance-updated-updated-updated.html.

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)

Receive News & Ratings for Crane Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply