DA Davidson Has Bullish Outlook for Crane FY2024 Earnings

Crane (NYSE:CR - Free Report) - Research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of Crane in a report released on Wednesday, October 30th. DA Davidson analyst M. Summerville now forecasts that the conglomerate will post earnings per share of $5.17 for the year, up from their prior estimate of $5.10. The consensus estimate for Crane's current full-year earnings is $7.87 per share. DA Davidson also issued estimates for Crane's Q4 2024 earnings at $1.27 EPS and FY2025 earnings at $6.01 EPS.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus raised their price objective on Crane from $168.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crane from $175.00 to $182.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Crane currently has a consensus rating of "Moderate Buy" and an average target price of $157.33.

Crane Stock Performance

NYSE:CR traded down $4.34 during trading hours on Thursday, hitting $157.34. 282,351 shares of the company were exchanged, compared to its average volume of 233,234. The company's 50 day moving average price is $154.58 and its 200-day moving average price is $148.55. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.93 and a beta of 0.77. Crane has a 52-week low of $93.53 and a 52-week high of $163.48. 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 (NYSE:CR - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $597.20 million during the quarter, compared to analysts' expectations of $594.45 million. During the same quarter last year, the firm earned $1.03 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis.

Institutional Trading of Crane

Institutional investors have recently made changes to their positions in the company. Matrix Trust Co purchased a new stake in Crane during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Crane in the third quarter valued at approximately $28,000. Covestor Ltd increased its holdings in shares of Crane by 150.6% in the first quarter. Covestor Ltd now owns 218 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 131 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Crane during the third quarter worth approximately $30,000. Finally, ORG Partners LLC acquired a new position in Crane during the second quarter worth $31,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, November 29th. Crane's payout ratio is 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.