Crane (NYSE:CR) Releases FY 2024 Earnings Guidance

Crane (NYSE:CR) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 4.750-5.050 for the period, compared to the consensus 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

A number of research firms recently commented on CR. Bank of America boosted their price objective on shares of Crane from $110.00 to $140.00 and gave the stock a buy rating in a report on Tuesday, March 5th. StockNews.com downgraded shares of Crane from a buy rating to a hold rating in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Crane from $135.00 to $150.00 and gave the company a buy rating in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Crane has a consensus rating of Moderate Buy and an average target price of $125.00.

Crane Stock Up 1.0 %

Shares of NYSE CR opened at $130.76 on Tuesday. Crane has a 12-month low of $67.28 and a 12-month high of $139.34. The company has a market capitalization of $7.47 billion, a PE ratio of 35.44, a price-to-earnings-growth 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 firm’s 50-day moving average is $129.69 and its two-hundred day moving average is $115.30.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $565.30 million during the quarter, compared to analyst estimates of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. Equities analysts anticipate that Crane will post 7.87 EPS for the current fiscal year.

Crane Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Crane’s previous quarterly dividend of $0.18. Crane’s payout ratio is currently 22.22%.

About Crane

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.