DA Davidson Comments on Crane’s Q2 2024 Earnings (NYSE:CR)

Crane (NYSE:CR) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Crane in a research report issued on Wednesday, April 24th. DA Davidson analyst M. Summerville anticipates that the conglomerate will post earnings per share of $1.23 for the quarter. DA Davidson has a “Buy” rating and a $160.00 price target on the stock. The consensus estimate for Crane’s current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane’s FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.90 EPS.

Several other brokerages have also recently issued reports on CR. Bank of America lifted their price target on Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. StockNews.com upgraded Crane from a “hold” rating to a “buy” rating in a research report on Saturday. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price target on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

Crane Stock Up 0.2 %

Shares of CR stock opened at $144.24 on Thursday. Crane has a 1 year low of $67.28 and a 1 year high of $146.29. The stock has a market cap of $8.23 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. The business’s fifty day moving average is $130.79 and its 200-day moving average is $116.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18.

Crane (NYSE:CR) last posted its earnings results on Monday, April 22nd. The conglomerate reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $565.30 million for the quarter, compared to analysts’ expectations of $546.39 million. During the same period last year, the firm earned $1.25 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year.

Hedge Funds Weigh In On Crane

Hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in shares of Crane by 143.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 116,920 shares of the conglomerate’s stock worth $10,387,000 after acquiring an additional 68,795 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Crane in the third quarter worth $679,000. Louisiana State Employees Retirement System acquired a new stake in shares of Crane in the fourth quarter worth $1,619,000. Fractal Investments LLC acquired a new stake in shares of Crane in the fourth quarter worth $579,000. Finally, JS Capital Management LLC boosted its position in shares of Crane by 98.0% in the third quarter. JS Capital Management LLC now owns 400,000 shares of the conglomerate’s stock worth $35,536,000 after buying an additional 198,000 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 30th. Crane’s payout ratio is 21.98%.

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.