According to Zacks, “Crane Co. remains well-positioned to leverage benefits from its diversified product portfolio and a large client base, over the long run. Also, the company consistently undertakes organic and inorganic initiatives to expand in existing and new markets as well as improve its product portfolio. Backed by these positives, the company targets to achieve 10% average annual earnings per share growth in the long run. Free cash flow conversion is anticipated to be 100% or more of net income. For 2016, the company increased its earnings guidance to $4.00-$4.20 per share, from $3.85-$4.15 expected earlier. However, risks from foreign currency translation, stiff competition and uncertain global economic conditions can restrict its momentum in the near term. Adverse foreign currency movements will likely hurt its top line by 2% in 2016. Over the last 60 days, the Zacks Consensus Estimate for the stock has decreased for 2016 while remained stable for 2017.”
Other research analysts also recently issued research reports about the stock. Canaccord Genuity reaffirmed a hold rating and issued a $60.00 target price on shares of Crane in a research report on Friday, June 17th. Credit Suisse Group AG reaffirmed a hold rating on shares of Crane in a research report on Friday, August 5th. RBC Capital Markets reaffirmed a sector perform rating and issued a $63.00 target price (up previously from $57.00) on shares of Crane in a research report on Wednesday, July 27th. Royal Bank Of Canada increased their price target on shares of Crane from $57.00 to $63.00 and gave the company a sector perform rating in a research note on Wednesday, July 27th. Finally, Bank of America Corp. upgraded shares of Crane from an underperform rating to a neutral rating and set a $70.00 price target for the company in a research note on Friday, July 29th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Crane has a consensus rating of Hold and an average target price of $62.00.
Shares of Crane (NYSE:CR) opened at 62.84 on Monday. The company has a market cap of $3.67 billion, a PE ratio of 15.11 and a beta of 1.37. The company has a 50-day moving average of $63.26 and a 200-day moving average of $58.89. Crane has a 1-year low of $41.68 and a 1-year high of $65.88.
Crane (NYSE:CR) last released its earnings results on Monday, July 25th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.19. The business earned $712.20 million during the quarter, compared to the consensus estimate of $697.13 million. Crane had a net margin of 9.01% and a return on equity of 21.25%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. Equities analysts forecast that Crane will post ($0.17) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, August 29th. Crane’s dividend payout ratio (DPR) is 31.73%.
In other Crane news, insider Thomas J. Craney sold 3,915 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $64.54, for a total value of $252,674.10. Following the transaction, the insider now directly owns 20,062 shares of the company’s stock, valued at approximately $1,294,801.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Philip R. Lochner sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $64.90, for a total transaction of $259,600.00. Following the completion of the transaction, the director now directly owns 2,350 shares in the company, valued at $152,515. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CR. Commonwealth Equity Services Inc raised its position in Crane by 34.0% in the first quarter. Commonwealth Equity Services Inc now owns 11,082 shares of the company’s stock valued at $597,000 after buying an additional 2,810 shares in the last quarter. Aperio Group LLC raised its position in Crane by 18.9% in the first quarter. Aperio Group LLC now owns 11,496 shares of the company’s stock valued at $619,000 after buying an additional 1,828 shares in the last quarter. Nisa Investment Advisors L.L.C. raised its position in Crane by 1.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 43,720 shares of the company’s stock valued at $2,355,000 after buying an additional 500 shares in the last quarter. Virginia Retirement System purchased a new position in Crane during the first quarter valued at approximately $1,347,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Crane during the first quarter valued at approximately $574,000. 67.40% of the stock is currently owned by hedge funds and other institutional investors.
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Crane Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Co. and related companies with MarketBeat.com's FREE daily email newsletter.