Crane (NYSE:CR) Issues Quarterly Earnings Results


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Crane (NYSE:CR) issued its earnings results on Sunday. The conglomerate reported $1.66 EPS for the quarter, topping the consensus estimate of $1.31 by $0.35, MarketWatch Earnings reports. Crane had a return on equity of 18.09% and a net margin of 0.71%. The business had revenue of $833.50 million during the quarter, compared to the consensus estimate of $771.33 million. During the same quarter last year, the company earned $1.15 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year.

Crane stock traded up $2.76 during trading hours on Tuesday, reaching $97.50. The company had a trading volume of 503,807 shares, compared to its average volume of 274,105. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.42 and a quick ratio of 1.02. The company has a 50-day moving average price of $94.30 and a 200 day moving average price of $79.38. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 256.59 and a beta of 1.65. Crane has a 12-month low of $44.23 and a 12-month high of $99.32.

In other Crane news, CFO Richard A. Maue sold 15,822 shares of Crane stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $83.12, for a total value of $1,315,124.64. Following the transaction, the chief financial officer now directly owns 93,075 shares of the company’s stock, valued at approximately $7,736,394. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is owned by insiders.

Several research analysts have commented on the company. Canaccord Genuity raised their target price on Crane from $96.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 10th. DA Davidson downgraded Crane from a “buy” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $80.00 in a research note on Thursday, January 7th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. Finally, Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating and set a $80.00 price target for the company in a research report on Thursday, January 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Crane presently has an average rating of “Buy” and a consensus target price of $83.25.

About Crane

Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for 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; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.

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Earnings History for Crane (NYSE:CR)

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