According to Zacks, “Crane is poised to gain from the focus on product development, growth investments, the Crane Currency buyout and repositioning initiatives. For 2019, the company anticipates adjusted earnings of $6.25-$6.45 per share, up 6% year over year. Also, the company believes in rewarding shareholders handsomely through dividend payments and share buybacks. However, revenues are likely to fall 2%. Core sales will be between a 2% decline and 1% growth — including 7% decline for Payment & Merchandising Technologies, and flat results for Engineered Materials. Also, forex woes will have 1.5% adverse impact on sales growth in the year while rising costs and expenses might be detrimental. Over the past three months, Crane's shares have underperformed the industry.”
Other research analysts have also recently issued research reports about the stock. Seaport Global Securities reaffirmed a “buy” rating and issued a $105.00 target price on shares of Crane in a research report on Wednesday, January 30th. Stifel Nicolaus set a $100.00 target price on shares of Crane and gave the company a “buy” rating in a research report on Tuesday, January 29th. BMO Capital Markets reaffirmed a “buy” rating on shares of Crane in a research report on Friday, January 11th. UBS Group upped their target price on shares of Crane from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Desjardins reaffirmed a “buy” rating on shares of Crane in a research report on Thursday, March 7th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $95.16.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, January 28th. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.10. Crane had a net margin of 10.03% and a return on equity of 24.54%. The firm had revenue of $839.70 million during the quarter, compared to analyst estimates of $862.96 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Crane’s quarterly revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that Crane will post 6.33 earnings per share for the current fiscal year.
In other news, VP James A. Lavish sold 10,896 shares of the stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $82.90, for a total transaction of $903,278.40. Following the sale, the vice president now owns 23,527 shares of the company’s stock, valued at $1,950,388.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James A. Lavish sold 5,150 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $84.94, for a total transaction of $437,441.00. The disclosure for this sale can be found here. Insiders have sold 71,149 shares of company stock worth $6,026,127 in the last three months. Corporate insiders own 3.39% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC purchased a new position in shares of Crane during the fourth quarter worth approximately $34,000. Quantamental Technologies LLC purchased a new position in Crane in the 4th quarter valued at $42,000. Enlightenment Research LLC purchased a new position in Crane in the 4th quarter valued at $43,000. SRS Capital Advisors Inc. grew its position in Crane by 183.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 749 shares of the conglomerate’s stock valued at $54,000 after buying an additional 485 shares during the last quarter. Finally, ETF Managers Group LLC grew its position in Crane by 17.3% in the 4th quarter. ETF Managers Group LLC now owns 1,422 shares of the conglomerate’s stock valued at $103,000 after buying an additional 210 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors and hedge funds.
Crane Company Profile
Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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