Crane Co. Expected to Earn Q2 2019 Earnings of $1.58 Per Share (NYSE:CR)

Crane Co. (NYSE:CR) – Research analysts at DA Davidson lowered their Q2 2019 earnings per share (EPS) estimates for Crane in a note issued to investors on Tuesday, April 30th, according to Zacks Investment Research. DA Davidson analyst M. Summerville now anticipates that the conglomerate will post earnings of $1.58 per share for the quarter, down from their previous forecast of $1.63. DA Davidson also issued estimates for Crane’s Q4 2019 earnings at $1.68 EPS, Q1 2020 earnings at $1.61 EPS, Q2 2020 earnings at $1.71 EPS and Q3 2020 earnings at $1.77 EPS.

Crane (NYSE:CR) last announced its earnings results on Monday, April 29th. The conglomerate reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. Crane had a return on equity of 24.49% and a net margin of 10.34%. The business had revenue of $831.70 million for the quarter, compared to analysts’ expectations of $792.39 million. During the same period in the prior year, the business posted $1.31 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis.

CR has been the topic of several other reports. Zacks Investment Research raised Crane from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. CIBC reissued a “hold” rating on shares of Crane in a research note on Friday, February 1st. Desjardins reissued a “buy” rating on shares of Crane in a research note on Thursday, March 7th. UBS Group boosted their price target on Crane from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, ValuEngine raised Crane from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $96.45.

CR stock traded down $1.25 during trading on Wednesday, hitting $85.00. The company had a trading volume of 142,000 shares, compared to its average volume of 290,253. Crane has a one year low of $67.18 and a one year high of $100.14. The stock has a market capitalization of $5.17 billion, a PE ratio of 14.19, a PEG ratio of 2.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CR. JPMorgan Chase & Co. raised its position in Crane by 1.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 327,019 shares of the conglomerate’s stock valued at $32,162,000 after buying an additional 4,442 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Crane by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,120 shares of the conglomerate’s stock valued at $8,273,000 after buying an additional 2,660 shares during the last quarter. Teachers Advisors LLC raised its position in Crane by 8.8% in the 3rd quarter. Teachers Advisors LLC now owns 451,444 shares of the conglomerate’s stock valued at $44,400,000 after buying an additional 36,681 shares during the last quarter. Nordea Investment Management AB raised its position in Crane by 250.2% in the 3rd quarter. Nordea Investment Management AB now owns 185,258 shares of the conglomerate’s stock valued at $18,220,000 after buying an additional 132,354 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Crane by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,426,179 shares of the conglomerate’s stock valued at $435,315,000 after buying an additional 41,941 shares during the last quarter. 69.16% of the stock is owned by institutional investors and hedge funds.

In related news, insider Louis V. Pinkham sold 55,103 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $85.03, for a total value of $4,685,408.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James A. Lavish sold 5,150 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $84.94, for a total value of $437,441.00. The disclosure for this sale can be found here. 3.39% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 31st will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, May 30th. Crane’s payout ratio is 26.04%.

About Crane

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Earnings History and Estimates for Crane (NYSE:CR)

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