$863.90 Million in Sales Expected for Crane Co. (CR) This Quarter

Brokerages expect that Crane Co. (NYSE:CR) will post sales of $863.90 million for the current quarter, Zacks reports. Four analysts have made estimates for Crane’s earnings, with estimates ranging from $839.00 million to $897.10 million. Crane reported sales of $714.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 21%. The business is expected to report its next quarterly earnings results on Monday, February 4th.

On average, analysts expect that Crane will report full-year sales of $3.37 billion for the current year, with estimates ranging from $3.35 billion to $3.40 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.46 billion, with estimates ranging from $3.34 billion to $3.63 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Crane.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 22nd. The conglomerate reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Crane had a return on equity of 23.29% and a net margin of 6.76%. The company had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $855.87 million. During the same period in the prior year, the firm earned $1.13 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year.

Several analysts have recently issued reports on CR shares. UBS Group increased their price objective on Crane from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research cut Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Stifel Nicolaus raised their price target on Crane from $115.00 to $117.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, ValuEngine raised Crane from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Crane currently has an average rating of “Buy” and an average price target of $108.13.

In related news, insider Bradley Ellis sold 11,763 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $90.53, for a total transaction of $1,064,904.39. Following the transaction, the insider now owns 164,937 shares of the company’s stock, valued at $14,931,746.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brendan Curran sold 3,000 shares of Crane stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $91.07, for a total value of $273,210.00. Following the completion of the sale, the insider now directly owns 14,346 shares in the company, valued at approximately $1,306,490.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,763 shares of company stock worth $1,607,454. Corporate insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janney Capital Management LLC boosted its holdings in Crane by 11.4% in the 2nd quarter. Janney Capital Management LLC now owns 5,928 shares of the conglomerate’s stock valued at $475,000 after purchasing an additional 609 shares in the last quarter. Creative Planning boosted its holdings in Crane by 3.0% in the 3rd quarter. Creative Planning now owns 24,878 shares of the conglomerate’s stock valued at $2,447,000 after purchasing an additional 714 shares in the last quarter. Arizona State Retirement System boosted its holdings in Crane by 2.1% in the 3rd quarter. Arizona State Retirement System now owns 35,970 shares of the conglomerate’s stock valued at $3,538,000 after purchasing an additional 737 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Crane by 9.1% in the 2nd quarter. Brown Advisory Inc. now owns 8,898 shares of the conglomerate’s stock valued at $713,000 after purchasing an additional 744 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Crane by 4.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,748 shares of the conglomerate’s stock valued at $1,582,000 after purchasing an additional 771 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

NYSE:CR traded up $1.28 during trading hours on Wednesday, reaching $88.09. 2,654 shares of the stock were exchanged, compared to its average volume of 413,808. The company has a quick ratio of 1.19, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. Crane has a twelve month low of $78.93 and a twelve month high of $102.65. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.25.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 29th. Crane’s dividend payout ratio is currently 30.91%.

Crane Company Profile

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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