Brokers Offer Predictions for Crane’s Q2 2024 Earnings (NYSE:CR)

Crane (NYSE:CR) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Crane in a report issued on Wednesday, April 24th. DA Davidson analyst M. Summerville forecasts that the conglomerate will post earnings per share of $1.23 for the quarter. DA Davidson has a “Buy” rating and a $160.00 price objective on the stock. The consensus estimate for Crane’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane’s FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

Crane (NYSE:CR) last released 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 company 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 for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS.

CR has been the subject of several other research reports. Stifel Nicolaus lifted their price objective on Crane from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday. Vertical Research raised Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America lifted their target price on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, StockNews.com lowered Crane from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.00.

Crane Trading Up 1.3 %

NYSE CR opened at $143.99 on Thursday. The business’s fifty day moving average is $130.37 and its 200-day moving average is $115.83. Crane has a one year low of $67.28 and a one year high of $145.80. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 38.60, a PEG 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.

Crane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, May 30th. Crane’s payout ratio is 21.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ronald Blue Trust Inc. lifted its position in Crane by 99.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 287 shares of the conglomerate’s stock worth $26,000 after buying an additional 143 shares during the last quarter. Fifth Third Bancorp lifted its position in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock worth $40,000 after buying an additional 99 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Crane in the 4th quarter worth approximately $90,000. Sutton Place Investors LLC bought a new stake in Crane in the 1st quarter worth approximately $206,000. Finally, InTrack Investment Management Inc bought a new stake in Crane in the first quarter valued at approximately $210,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

About Crane

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.