Crane Co. (NYSE:CR) Expected to Post Quarterly Sales of $764.89 Million

Brokerages expect that Crane Co. (NYSE:CRGet Rating) will announce sales of $764.89 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Crane’s earnings, with the highest sales estimate coming in at $788.08 million and the lowest estimate coming in at $750.00 million. Crane reported sales of $796.40 million during the same quarter last year, which would suggest a negative year over year growth rate of 4%. The company is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Crane will report full-year sales of $3.19 billion for the current year, with estimates ranging from $3.14 billion to $3.23 billion. For the next year, analysts anticipate that the company will report sales of $3.34 billion, with estimates ranging from $3.27 billion to $3.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Crane.

Crane (NYSE:CRGet Rating) last issued its earnings results on Monday, April 25th. The conglomerate reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.13. Crane had a net margin of 13.49% and a return on equity of 22.54%. The firm had revenue of $801.10 million for the quarter, compared to analysts’ expectations of $800.76 million. During the same quarter last year, the business earned $1.66 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis.

A number of analysts recently commented on the company. Morgan Stanley raised their price target on Crane from $111.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Monday, January 31st. Stifel Nicolaus lowered their price objective on Crane from $137.00 to $134.00 in a research report on Monday, April 18th. Zacks Investment Research lowered Crane from a “hold” rating to a “sell” rating and set a $100.00 price objective for the company. in a research report on Thursday, April 28th. Finally, StockNews.com lowered Crane from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $119.60.

Several institutional investors and hedge funds have recently bought and sold shares of CR. Thrivent Financial for Lutherans raised its position in shares of Crane by 96.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,215,120 shares of the conglomerate’s stock worth $115,205,000 after purchasing an additional 596,451 shares during the last quarter. Norges Bank purchased a new position in shares of Crane in the 4th quarter worth about $52,606,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Crane in the 3rd quarter worth about $28,516,000. Lord Abbett & CO. LLC raised its position in shares of Crane by 37.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 997,287 shares of the conglomerate’s stock worth $94,552,000 after purchasing an additional 273,292 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its holdings in Crane by 2,532.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 250,665 shares of the conglomerate’s stock worth $25,500,000 after buying an additional 241,144 shares in the last quarter. 73.16% of the stock is owned by hedge funds and other institutional investors.

CR stock traded up $3.53 on Tuesday, reaching $94.07. The company’s stock had a trading volume of 146,315 shares, compared to its average volume of 299,151. The business has a fifty day simple moving average of $103.05 and a two-hundred day simple moving average of $102.60. Crane has a 12-month low of $84.68 and a 12-month high of $114.87. The firm has a market cap of $5.27 billion, a PE ratio of 12.85, a PEG ratio of 1.20 and a beta of 1.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.48 and a current ratio of 2.07.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 31st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, May 27th. Crane’s dividend payout ratio is presently 25.68%.

About Crane (Get Rating)

Crane Co, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The Aerospace & Electronics segment offers original equipment and aftermarket parts under the Hydro-Aire, ELDEC, Lear Romec, P.L.

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