Crane (NYSE:CR) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

Crane Trading Up 2.0 %

NYSE CR opened at $161.97 on Thursday. The firm has a 50 day simple moving average of $154.58 and a 200-day simple moving average of $148.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a one year low of $93.53 and a one year high of $163.48. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 1.93 and a beta of 0.77.

Crane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s payout ratio is 18.06%.

Analysts Set New Price Targets

Several research analysts have weighed in on CR shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their target price on shares of Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company 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.