Crane (NYSE:CR) Announces Quarterly Dividend of $0.21

Crane (NYSE:CR) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.205 per share by the conglomerate on Wednesday, June 12th. This represents a $0.82 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, May 31st.

Crane has decreased its dividend by an average of 16.3% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Crane has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Price Performance

Shares of NYSE:CR opened at $138.27 on Wednesday. Crane has a 12 month low of $67.28 and a 12 month high of $139.54. The firm has a market capitalization of $7.89 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.93 and a beta of 1.49. 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 company’s fifty day moving average price is $130.01 and its 200 day moving average price is $115.65.

Crane (NYSE:CR) last posted its earnings results on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business 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 business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, sell-side analysts predict that Crane will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus upped their price objective on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, StockNews.com downgraded Crane from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.40.

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.