Crane (NYSE:CR) Declares Quarterly Dividend of $0.21

Crane (NYSE:CR) announced a quarterly dividend on Monday, October 28th,RTT News reports. Investors of record on Friday, November 29th will be paid a dividend of 0.205 per share by the conglomerate on Wednesday, December 11th. This represents a $0.82 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, November 29th.

Crane has a dividend payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Trading Up 0.2 %

Shares of CR stock opened at $185.12 on Wednesday. Crane has a 1 year low of $102.80 and a 1 year high of $188.52. The firm has a fifty day moving average price of $162.63 and a 200-day moving average price of $153.05. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 1.93 and a beta of 0.81. 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 (NYSE:CR) last announced its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that Crane will post 7.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CR shares. Deutsche Bank Aktiengesellschaft raised their price target on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus cut Crane from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Crane currently has an average rating of “Moderate Buy” and an average target price of $167.00.

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.