Crane (NYSE:CR) Updates FY24 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.95-$5.15 for the period, compared to the consensus EPS estimate of $5.01. The company issued revenue guidance of $2.31 billion, compared to the consensus revenue estimate of $2.31 billion. Crane also updated its FY 2024 guidance to 4.950-5.150 EPS.

Crane Trading Up 0.2 %

Shares of NYSE CR traded up $0.25 during trading on Monday, reaching $159.12. The stock had a trading volume of 580,381 shares, compared to its average volume of 236,964. The business’s 50-day moving average price is $146.37 and its 200-day moving average price is $135.74. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $162.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market cap of $9.09 billion, a P/E ratio of 42.59, a PEG ratio of 1.93 and a beta of 0.80.

Crane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be given a dividend of $0.205 per share. The ex-dividend date is Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s dividend payout ratio is presently 21.98%.

Wall Street Analysts Forecast Growth

CR has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of Crane from $157.00 to $168.00 and gave the stock a buy rating in a research note on Thursday, July 18th. StockNews.com upgraded Crane from a hold rating to a buy rating in a report on Saturday, April 27th. Vertical Research upgraded Crane from a hold rating to a buy rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on Crane from $120.00 to $152.00 and gave the company a neutral rating in a research note on Wednesday, May 15th. Finally, Bank of America upped their target price on shares of Crane from $140.00 to $165.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $145.50.

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.