Crane (CR) Posts Earnings Results, Beats Expectations By $0.16 EPS

Crane (NYSE:CR) released its quarterly earnings results on Monday. The conglomerate reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.16, Briefing.com reports. Crane had a return on equity of 21.72% and a net margin of 6.17%. The company had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $855.87 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. Crane updated its FY 2018 guidance to $5.80-5.90 EPS and its FY18 guidance to $5.80-5.90 EPS.

NYSE CR opened at $87.33 on Tuesday. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.58 and a beta of 1.25. Crane has a 1 year low of $78.93 and a 1 year high of $102.65. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.60%. Crane’s dividend payout ratio is currently 30.91%.

Several equities research analysts recently commented on CR shares. Stifel Nicolaus boosted their target price on Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, October 8th. UBS Group boosted their target price on Crane from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research raised Crane from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, July 27th. Finally, ValuEngine raised Crane from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Crane presently has a consensus rating of “Buy” and an average price target of $107.44.

In other Crane news, insider Brendan Curran sold 3,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $91.07, for a total value of $273,210.00. Following the transaction, the insider now owns 14,346 shares of the company’s stock, valued at $1,306,490.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Ellis sold 11,763 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $90.53, for a total value of $1,064,904.39. Following the completion of the transaction, the insider now directly owns 164,937 shares in the company, valued at approximately $14,931,746.61. The disclosure for this sale can be found here. Insiders sold 83,531 shares of company stock worth $7,477,261 in the last ninety days. 3.00% of the stock is owned by corporate insiders.

About Crane

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Earnings History for Crane (NYSE:CR)

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