Crane (NYSE:CR) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Crane (NYSE:CR) issued its earnings results on Monday. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.06, Briefing.com reports. The company had revenue of $597.20 million during the quarter, compared to analysts’ expectations of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. Crane’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. Crane updated its FY24 guidance to $5.05-$5.20 EPS and its FY 2024 guidance to 5.050-5.200 EPS.

Crane Stock Up 0.5 %

Shares of CR stock traded up $0.71 during midday trading on Tuesday, reaching $153.10. 73,325 shares of the stock were exchanged, compared to its average volume of 229,992. The firm has a market cap of $8.76 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $154.14 and its two-hundred day moving average is $148.29. Crane has a 1 year low of $91.35 and a 1 year high of $163.48.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.54%. Crane’s dividend payout ratio (DPR) is presently 18.06%.

Analyst Upgrades and Downgrades

CR has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus boosted their price objective on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.33.

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.