Crane Company (NYSE:CR) – Stock analysts at Seaport Global Securities reduced their FY2017 EPS estimates for Crane in a research note issued on Thursday. Seaport Global Securities analyst R. Cassil now anticipates that the conglomerate will post earnings per share of $4.44 for the year, down from their previous forecast of $4.53. Seaport Global Securities also issued estimates for Crane’s Q4 2017 earnings at $1.08 EPS, Q1 2018 earnings at $1.03 EPS, Q2 2018 earnings at $1.24 EPS and FY2018 earnings at $4.64 EPS.
Several other analysts have also issued reports on the stock. Canaccord Genuity upgraded shares of Crane from a “hold” rating to a “buy” rating and increased their price target for the stock from $78.00 to $92.00 in a research report on Tuesday, May 16th. TheStreet upgraded shares of Crane from a “c+” rating to a “b+” rating in a research report on Monday, April 24th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $90.00 price target (up previously from $82.00) on shares of Crane in a research report on Monday, May 1st. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Stifel Nicolaus increased their price target on shares of Crane from $80.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $76.88.
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Crane (NYSE:CR) last released its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.17. The company had revenue of $702.50 million for the quarter, compared to the consensus estimate of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 earnings per share.
Hedge funds have recently modified their holdings of the stock. ClariVest Asset Management LLC raised its stake in shares of Crane by 15.7% in the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after buying an additional 200 shares in the last quarter. Broderick Brian C bought a new stake in shares of Crane during the first quarter worth $202,000. Janney Capital Management LLC bought a new stake in shares of Crane during the first quarter worth $227,000. World Asset Management Inc increased its position in Crane by 2.4% in the first quarter. World Asset Management Inc now owns 3,093 shares of the conglomerate’s stock valued at $231,000 after buying an additional 72 shares during the last quarter. Finally, TLP Group LLC acquired a new position in Crane during the first quarter valued at about $254,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.
In other Crane news, VP Curtis A. Baron, Jr. sold 5,364 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $79.60, for a total value of $426,974.40. Following the sale, the vice president now owns 18,044 shares in the company, valued at $1,436,302.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.75%. Crane’s dividend payout ratio is currently 60.83%.
Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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