Brokerages predict that Crane Company (NYSE:CR) will announce sales of $696.80 million for the current quarter, Zacks reports. Four analysts have issued estimates for Crane’s earnings, with the highest sales estimate coming in at $716.70 million and the lowest estimate coming in at $685.00 million. Crane posted sales of $712.20 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.2%. The business is expected to report its next quarterly earnings results after the market closes on Monday, July 24th.
On average, analysts expect that Crane will report full year sales of $696.80 million for the current fiscal year, with estimates ranging from $2.70 billion to $2.77 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.85 billion per share, with estimates ranging from $2.84 billion to $2.87 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Crane.
Crane (NYSE:CR) last issued its quarterly earnings results on Monday, April 24th. The conglomerate reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.05. Crane had a return on equity of 20.85% and a net margin of 4.74%. The company had revenue of $673.40 million during the quarter, compared to analyst estimates of $655.84 million. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year.
Several research firms recently issued reports on CR. Wolfe Research began coverage on Crane in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Monday, July 17th. BidaskClub raised Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Crane in a report on Friday, July 14th. Finally, William Blair raised Crane from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 25th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $75.33.
Shares of Crane (NYSE:CR) traded up 0.28% on Friday, hitting $83.54. The stock had a trading volume of 278,849 shares. Crane has a 52 week low of $57.80 and a 52 week high of $84.00. The stock’s 50-day moving average price is $80.18 and its 200 day moving average price is $76.38. The company has a market cap of $4.97 billion, a PE ratio of 37.96 and a beta of 1.11.
In related news, VP Curtis A. Baron, Jr. sold 5,364 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $79.60, for a total transaction of $426,974.40. Following the sale, the vice president now owns 18,044 shares in the company, valued at approximately $1,436,302.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard A. Maue sold 14,528 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $79.83, for a total value of $1,159,770.24. Following the sale, the vice president now owns 28,906 shares in the company, valued at approximately $2,307,565.98. The disclosure for this sale can be found here. Insiders have sold a total of 26,392 shares of company stock valued at $2,109,190 in the last three months. 3.10% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Crane by 9,355.1% in the first quarter. BlackRock Inc. now owns 3,997,437 shares of the conglomerate’s stock valued at $299,129,000 after buying an additional 3,955,159 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Crane by 31.7% in the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock valued at $114,772,000 after buying an additional 369,589 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Crane by 148.3% in the first quarter. Systematic Financial Management LP now owns 661,439 shares of the conglomerate’s stock valued at $49,495,000 after buying an additional 395,055 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Crane by 8.9% in the first quarter. Principal Financial Group Inc. now owns 590,135 shares of the conglomerate’s stock valued at $44,160,000 after buying an additional 48,462 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Crane by 4.0% in the first quarter. Morgan Stanley now owns 525,248 shares of the conglomerate’s stock valued at $39,304,000 after buying an additional 19,993 shares during the last quarter. Institutional investors own 69.10% of the company’s stock.
About Crane
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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