Crane (NYSE:CR) Releases FY 2024 Earnings Guidance

Crane (NYSE:CR) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.750-5.050 for the period, compared to the consensus EPS estimate of 4.810. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $2.3 billion. Crane also updated its FY24 guidance to $4.75-5.05 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CR. Stifel Nicolaus boosted their price objective on shares of Crane from $135.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. StockNews.com cut Crane from a buy rating to a hold rating in a research report on Friday. Finally, Bank of America boosted their price objective on Crane from $110.00 to $140.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $125.00.

Crane Stock Performance

Shares of CR stock traded up $1.28 during midday trading on Monday, hitting $130.76. The company had a trading volume of 265,058 shares, compared to its average volume of 237,586. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 1.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The company’s 50 day simple moving average is $129.57 and its 200 day simple moving average is $114.99. Crane has a 52-week low of $67.28 and a 52-week high of $139.34.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, January 29th. The conglomerate reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $532.90 million for the quarter, compared to analyst estimates of $519.55 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. Research analysts anticipate that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Thursday, February 29th were issued a dividend of $0.205 per share. This is a boost from Crane’s previous quarterly dividend of $0.18. This represents a $0.82 annualized dividend and a yield of 0.63%. The ex-dividend date was Wednesday, February 28th. Crane’s dividend payout ratio is currently 22.22%.

Crane Company Profile

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.