DA Davidson Has Bullish Estimate for Crane FY2024 Earnings

Crane (NYSE:CR) – Analysts at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for Crane in a research note issued on Wednesday, October 30th. DA Davidson analyst M. Summerville now forecasts that the conglomerate will post earnings of $5.17 per share 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.

Crane (NYSE:CR) last posted its earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. The business had revenue of $597.20 million during 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%. Crane’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS.

A number of other equities analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus lifted their price target on Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.33.

Crane Stock Up 2.0 %

Shares of CR stock opened at $161.97 on Thursday. The firm has a market capitalization of $9.27 billion, a P/E ratio of 35.68, a PEG ratio of 1.93 and a beta of 0.77. The firm’s fifty day moving average price is $154.58 and its two-hundred day moving average price is $148.55. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 1 year low of $93.53 and a 1 year high of $163.48.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders 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 dividend yield of 0.51%. Crane’s dividend payout ratio is presently 18.06%.

Hedge Funds Weigh In On Crane

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CR. Matrix Trust Co bought a new position in Crane in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of Crane in the third quarter worth $28,000. ORG Wealth Partners LLC purchased a new position in shares of Crane in the third quarter valued at $30,000. Covestor Ltd raised its stake in shares of Crane by 150.6% during the 1st quarter. Covestor Ltd now owns 218 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 131 shares during the period. Finally, ORG Partners LLC purchased a new stake in Crane during the 2nd quarter worth about $31,000. Institutional investors own 75.14% of the company’s stock.

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.