News headlines about Crane (NYSE:CR) have trended somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Crane earned a daily sentiment score of 0.23 on Accern’s scale. Accern also assigned press coverage about the conglomerate an impact score of 45.3671287439834 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern’s rankings:
- Oppenheimer Reaffirms Buy Rating for Crane (CR) (americanbankingnews.com)
- Crane’s (CR) “Buy” Rating Reiterated at Canaccord Genuity (americanbankingnews.com)
- Crane (CR) Upgraded at Vertical Research (americanbankingnews.com)
- Diversified Industrial Crane Co. to Acquire Boston-Based Crane & Co., Inc. (“Crane Currency”) for $800 Million (finance.yahoo.com)
- [$$] Crane Co. to Acquire the Parent of Crane Currency for $800 Million (finance.yahoo.com)
Several brokerages have weighed in on CR. Canaccord Genuity reiterated a “buy” rating and issued a $95.00 target price on shares of Crane in a report on Tuesday. Oppenheimer reiterated a “buy” rating on shares of Crane in a report on Tuesday. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a report on Wednesday. Seaport Global Securities upgraded Crane from a “neutral” rating to a “buy” rating and upped their target price for the stock from $78.00 to $95.00 in a report on Thursday, October 26th. Finally, Bank of America upped their target price on Crane from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $93.83.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 23rd. The conglomerate reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The firm had revenue of $695.90 million during the quarter, compared to analyst estimates of $679.77 million. Crane had a return on equity of 20.70% and a net margin of 4.96%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. research analysts forecast that Crane will post 4.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 30th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, November 29th. Crane’s payout ratio is 58.93%.
In related news, Director James L. L. Tullis sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $81.44, for a total transaction of $162,880.00. Following the transaction, the director now directly owns 2,110 shares of the company’s stock, valued at approximately $171,838.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Augustus I. Dupont sold 11,130 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the transaction, the vice president now directly owns 84,116 shares in the company, valued at $7,257,528.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,403 shares of company stock valued at $1,896,288. Corporate insiders own 3.10% of the company’s stock.
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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