Crane (NYSE:CR) Issues FY 2024 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 4.750-5.050 for the period, compared to the consensus EPS estimate of 4.810. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $2.3 billion. Crane also updated its FY24 guidance to $4.75-5.05 EPS.

Crane Stock Up 1.0 %

CR stock opened at $130.76 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.93 and a beta of 1.49. The business’s fifty day moving average price is $129.69 and its two-hundred day moving average price is $115.30. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $139.34.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. On average, equities analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.205 per share. This is a boost from Crane’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, February 28th. This represents a $0.82 annualized dividend and a yield of 0.63%. Crane’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analysts Forecast Growth

CR has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Crane from $135.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, April 17th. StockNews.com lowered Crane from a buy rating to a hold rating in a report on Friday. Finally, Bank of America increased their target price on Crane from $110.00 to $140.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $125.00.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.