Crane Co. (CR) to Post Q1 2018 Earnings of $1.13 Per Share, William Blair Forecasts

Crane Co. (NYSE:CR) – Equities researchers at William Blair cut their Q1 2018 earnings per share (EPS) estimates for Crane in a report issued on Wednesday, according to Zacks Investment Research. William Blair analyst N. Heymann now forecasts that the conglomerate will post earnings per share of $1.13 for the quarter, down from their previous forecast of $1.14. William Blair also issued estimates for Crane’s Q2 2018 earnings at $1.37 EPS, Q3 2018 earnings at $1.30 EPS, Q4 2018 earnings at $1.40 EPS and FY2018 earnings at $5.20 EPS.

CR has been the topic of several other research reports. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a research note on Sunday. Wolfe Research downgraded Crane from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research note on Monday, October 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Crane in a report on Monday, September 25th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $93.83.

Shares of Crane (NYSE CR) traded up $0.49 during trading hours on Monday, reaching $89.71. The company’s stock had a trading volume of 241,162 shares, compared to its average volume of 192,550. The stock has a market capitalization of $5,310.00, a PE ratio of 40.05, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.66 and a quick ratio of 1.96. Crane has a fifty-two week low of $67.62 and a fifty-two week high of $90.71.

Crane (NYSE:CR) last released its earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Crane had a return on equity of 20.70% and a net margin of 4.96%. The firm had revenue of $695.90 million for the quarter, compared to analysts’ expectations of $679.77 million. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis.

Institutional investors and hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its position in Crane by 33.3% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock worth $127,000 after purchasing an additional 400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Crane by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 140 shares in the last quarter. Global X Management Co. LLC boosted its position in Crane by 221.0% during the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after purchasing an additional 1,282 shares in the last quarter. Howe & Rusling Inc. boosted its position in Crane by 88.5% during the third quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock worth $180,000 after purchasing an additional 1,057 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Crane by 54.2% during the third quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock worth $182,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

In other Crane news, Director James L. L. Tullis sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the sale, the director now owns 2,110 shares in the company, valued at approximately $171,838.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Augustus I. Dupont sold 11,130 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the sale, the vice president now owns 84,116 shares in the company, valued at approximately $7,257,528.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,403 shares of company stock valued at $1,896,288. Corporate insiders own 3.10% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Thursday, November 30th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Wednesday, November 29th. Crane’s payout ratio is 58.93%.

COPYRIGHT VIOLATION WARNING: “Crane Co. (CR) to Post Q1 2018 Earnings of $1.13 Per Share, William Blair Forecasts” was posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.truebluetribune.com/2018/01/03/william-blair-comments-on-crane-companys-q1-2018-earnings-cr.html.

Crane Company Profile

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

Get a free copy of the Zacks research report on Crane (CR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Crane (NYSE:CR)

Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply