Oppenheimer Equities Analysts Lower Earnings Estimates for Crane Co. (CR)

Crane Co. (NYSE:CR) – Equities research analysts at Oppenheimer dropped their Q2 2018 earnings per share estimates for shares of Crane in a research report issued on Tuesday, April 24th. Oppenheimer analyst J. Giannakouros now anticipates that the conglomerate will post earnings per share of $1.35 for the quarter, down from their prior forecast of $1.47. Oppenheimer has a “Buy” rating and a $105.00 price objective on the stock. Oppenheimer also issued estimates for Crane’s Q3 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.47 EPS, FY2018 earnings at $5.60 EPS and FY2019 earnings at $6.25 EPS.

Several other brokerages have also recently weighed in on CR. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Boenning Scattergood reissued a “neutral” rating on shares of Crane in a research note on Monday, February 26th. Bank of America increased their price target on Crane from $104.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. UBS assumed coverage on Crane in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $100.00 price target for the company. Finally, Canaccord Genuity reissued a “buy” rating and issued a $110.00 price target on shares of Crane in a research note on Monday, March 12th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Crane presently has an average rating of “Buy” and an average target price of $106.67.



Shares of CR opened at $86.74 on Thursday. Crane has a 12-month low of $71.23 and a 12-month high of $102.65. The company has a quick ratio of 1.40, a current ratio of 1.79 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $5,236.25, a price-to-earnings ratio of 19.15, a PEG ratio of 1.53 and a beta of 1.20.

Crane (NYSE:CR) last issued its earnings results on Monday, April 23rd. The conglomerate reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. Crane had a return on equity of 21.08% and a net margin of 6.09%. The business had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $802.47 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in Crane by 87.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,969 shares of the conglomerate’s stock worth $621,000 after acquiring an additional 3,244 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Crane in the fourth quarter worth approximately $2,848,000. Macquarie Group Ltd. boosted its holdings in Crane by 33.5% in the fourth quarter. Macquarie Group Ltd. now owns 11,210 shares of the conglomerate’s stock worth $1,000,000 after acquiring an additional 2,810 shares in the last quarter. Vident Investment Advisory LLC boosted its holdings in Crane by 79.2% in the fourth quarter. Vident Investment Advisory LLC now owns 4,684 shares of the conglomerate’s stock worth $418,000 after acquiring an additional 2,070 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Crane in the fourth quarter worth approximately $375,000. 69.23% of the stock is owned by institutional investors and hedge funds.

In related news, insider Brendan Curran sold 16,356 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the completion of the sale, the insider now owns 27,702 shares of the company’s stock, valued at $2,600,386.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James A. Lavish sold 12,984 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $94.90, for a total value of $1,232,181.60. Following the sale, the vice president now directly owns 16,997 shares of the company’s stock, valued at approximately $1,613,015.30. The disclosure for this sale can be found here. Insiders have sold 46,861 shares of company stock valued at $4,476,647 in the last ninety days. 3.00% of the stock is currently owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.40 annualized dividend and a yield of 1.61%. Crane’s dividend payout ratio is currently 30.91%.

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About Crane

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

Earnings History and Estimates for Crane (NYSE:CR)

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