Crane (NYSE:CR) to Issue $0.21 Quarterly Dividend

Crane (NYSE:CR) announced a quarterly dividend on Monday, October 28th, RTT News reports. Investors of record on Friday, November 29th will be given 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 0.54%.

Crane has a payout ratio of 14.0% meaning 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 Stock Performance

Shares of NYSE CR opened at $152.21 on Tuesday. The firm’s 50-day moving average price is $154.14 and its 200-day moving average price is $148.29. Crane has a 52-week low of $91.35 and a 52-week high of $163.48. The company has a market cap of $8.70 billion, a PE ratio of 40.81, a PEG ratio of 1.93 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.06. The firm had revenue of $597.20 million for the quarter, compared to analysts’ expectations of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. As a group, analysts anticipate that Crane will post 7.87 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CR shares. Stifel Nicolaus increased their price objective 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. Deutsche Bank Aktiengesellschaft lifted their target price on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.33.

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.