Crane (NYSE:CR) Posts Quarterly Earnings Results, Beats Estimates By $0.35 EPS

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

NYSE:CR traded up $2.76 during trading hours on Tuesday, hitting $97.50. The company’s stock had a trading volume of 503,807 shares, compared to its average volume of 274,105. Crane has a 52-week low of $44.23 and a 52-week high of $99.32. The company has a current ratio of 1.42, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $5.67 billion, a P/E ratio of 256.59 and a beta of 1.65. The stock has a fifty day moving average of $94.28 and a 200-day moving average of $79.18.

A number of equities research analysts have recently weighed in on CR shares. DA Davidson cut Crane from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $80.00 in a research note on Thursday, January 7th. Zacks Investment Research raised shares of Crane from a “sell” rating to a “hold” rating and set a $80.00 price target on the stock in a research report on Thursday, January 28th. Canaccord Genuity raised their price objective on shares of Crane from $96.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, March 10th. Finally, Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $83.25.

In other news, CFO Richard A. Maue sold 15,822 shares of the stock in a transaction dated 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 owns 93,075 shares in the company, valued at approximately $7,736,394. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.60% of the stock is owned by insiders.

Crane Company Profile

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.

Further Reading: What are the components of an earnings report?

Earnings History for Crane (NYSE:CR)

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