DA Davidson Weighs in on Crane’s FY2024 Earnings (NYSE:CR)

Crane (NYSE:CR) – Equities researchers at DA Davidson upped their FY2024 EPS estimates for shares of Crane in a note issued to investors on Wednesday, October 30th. DA Davidson analyst M. Summerville now expects that the conglomerate will post earnings per share of $5.17 for the year, up from their prior forecast of $5.10. The consensus estimate for Crane’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane’s Q4 2024 earnings at $1.27 EPS and FY2025 earnings at $6.01 EPS.

A number of other brokerages also recently commented on CR. Stifel Nicolaus boosted 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. Deutsche Bank Aktiengesellschaft upped their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.33.

Crane Price Performance

CR stock opened at $161.97 on Thursday. The company has a market capitalization of $9.27 billion, a PE ratio of 35.68, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average price is $154.58 and its 200 day moving average price is $148.55. Crane has a 12-month low of $93.53 and a 12-month high of $163.48.

Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, topping the consensus estimate of $1.32 by $0.06. The business had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS.

Hedge Funds Weigh In On Crane

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors increased its holdings in shares of Crane by 103.3% in the 1st quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock valued at $182,216,000 after purchasing an additional 685,230 shares during the period. Select Equity Group L.P. acquired a new position in shares of Crane during the second quarter valued at about $21,159,000. Hantz Financial Services Inc. acquired a new position in Crane in the 2nd quarter valued at approximately $16,205,000. Lord Abbett & CO. LLC lifted its position in Crane by 13.0% in the first quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock worth $98,354,000 after purchasing an additional 83,938 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Crane by 673.2% during the 2nd quarter. American Century Companies Inc. now owns 82,172 shares of the conglomerate’s stock worth $11,913,000 after acquiring an additional 71,544 shares during the period. 75.14% of the stock is owned by institutional investors.

Crane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a dividend of $0.205 per share. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a yield of 0.51%. Crane’s dividend payout ratio is currently 18.06%.

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.