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.
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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