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 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%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Crane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane and related companies with MarketBeat.com's FREE daily email newsletter.