Crane (NYSE:CR) Releases FY 2022 Earnings Guidance

Crane (NYSE:CRGet Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $7.45-$7.85 for the period, compared to the consensus estimate of $7.40. The company issued revenue guidance of -.

CR stock opened at $94.98 on Friday. Crane has a 1-year low of $84.68 and a 1-year high of $114.87. The company has a current ratio of 2.07, a quick ratio of 1.48 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $98.35 and its 200 day moving average is $101.19. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.26 and a beta of 1.62.

Crane (NYSE:CRGet Rating) last issued its quarterly earnings results on Monday, April 25th. The conglomerate reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.13. Crane had a net margin of 13.49% and a return on equity of 22.54%. The business had revenue of $801.10 million for the quarter, compared to analysts’ expectations of $800.76 million. During the same period last year, the business earned $1.66 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Crane will post 7.39 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 31st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, May 27th. Crane’s dividend payout ratio (DPR) is presently 25.68%.

CR has been the subject of a number of analyst reports. StockNews.com lowered Crane from a strong-buy rating to a buy rating in a research note on Wednesday, April 27th. Zacks Investment Research lowered Crane from a hold rating to a sell rating and set a $100.00 price target for the company. in a research note on Thursday, April 28th. Finally, Stifel Nicolaus dropped their price target on Crane from $137.00 to $134.00 in a research note on Monday, April 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $119.60.

Several hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in Crane by 14.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,077 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 133 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Crane by 1.1% during the 1st quarter. Bank of Montreal Can now owns 12,777 shares of the conglomerate’s stock worth $1,408,000 after purchasing an additional 136 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Crane by 1.0% during the 1st quarter. Baird Financial Group Inc. now owns 15,765 shares of the conglomerate’s stock worth $1,707,000 after purchasing an additional 152 shares during the last quarter. Citigroup Inc. increased its position in Crane by 3.3% during the 4th quarter. Citigroup Inc. now owns 7,501 shares of the conglomerate’s stock valued at $763,000 after buying an additional 237 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in Crane by 6.1% during the 1st quarter. Eqis Capital Management Inc. now owns 4,974 shares of the conglomerate’s stock valued at $539,000 after buying an additional 285 shares in the last quarter. 73.16% of the stock is currently owned by hedge funds and other institutional investors.

About Crane (Get Rating)

Crane Co, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The Aerospace & Electronics segment offers original equipment and aftermarket parts under the Hydro-Aire, ELDEC, Lear Romec, P.L.

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