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%.
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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.
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