Crane (NYSE:CR) Updates FY 2024 Earnings Guidance

Crane (NYSE:CR) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 5.050-5.200 for the period, compared to the consensus EPS estimate of 4.260. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $1.5 billion. Crane also updated its FY24 guidance to $5.05-$5.20 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CR shares. Stifel Nicolaus boosted their price target on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.33.

Crane Stock Up 0.8 %

Shares of CR stock traded up $1.21 during trading hours on Wednesday, reaching $160.05. 68,346 shares of the stock were exchanged, compared to its average volume of 231,240. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. Crane has a 12-month low of $93.53 and a 12-month high of $163.48. The firm has a market capitalization of $9.16 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.93 and a beta of 0.77. The business’s fifty day moving average is $154.36 and its two-hundred day moving average is $148.46.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating the consensus estimate of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts expect that Crane will post 7.87 EPS for the current fiscal year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 29th. Crane’s dividend payout ratio is currently 18.06%.

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.