Crane Company (NYSE:CR) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $4.35-4.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.51.
Several equities research analysts have commented on the company. Stifel Nicolaus boosted their target price on Crane from $80.00 to $84.00 and gave the stock a hold rating in a report on Wednesday, April 26th. BidaskClub downgraded Crane from a buy rating to a hold rating in a report on Saturday. Canaccord Genuity raised Crane from a hold rating to a buy rating and boosted their target price for the stock from $78.00 to $92.00 in a report on Tuesday, May 16th. Zacks Investment Research downgraded Crane from a buy rating to a hold rating in a report on Wednesday, May 31st. Finally, Wolfe Research raised Crane from a market perform rating to an outperform rating in a report on Monday, August 14th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $76.88.
Crane Company (NYSE:CR) traded up 0.16% on Friday, reaching $73.49. The company’s stock had a trading volume of 226,053 shares. Crane Company has a 1-year low of $59.81 and a 1-year high of $84.34. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 33.48 and a beta of 1.10. The firm’s 50 day moving average price is $78.52 and its 200-day moving average price is $76.76.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.17. The company had revenue of $702.50 million during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. Crane’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. Equities analysts forecast that Crane Company will post $4.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 31st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 1.80%. Crane’s payout ratio is 60.83%.
In related news, VP Kristian Robert Salovaara sold 9,200 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares of the company’s stock, valued at approximately $1,888,693.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.
WARNING: This article was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://stocknewstimes.com/2017/08/19/crane-company-nysecr-issues-fy17-earnings-guidance-updated-updated-updated.html.
Crane Company Profile
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.
Receive News & Ratings for Crane Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Company and related companies with MarketBeat.com's FREE daily email newsletter.
