$863.90 Million in Sales Expected for Crane Co. (CR) This Quarter

Wall Street analysts expect Crane Co. (NYSE:CR) to report sales of $863.90 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Crane’s earnings, with the lowest sales estimate coming in at $839.00 million and the highest estimate coming in at $897.10 million. Crane reported sales of $714.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21%. The business is expected to report its next quarterly earnings report on Monday, February 4th.

On average, analysts expect that Crane will report full year sales of $3.37 billion for the current fiscal year, with estimates ranging from $3.35 billion to $3.40 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.46 billion, with estimates ranging from $3.34 billion to $3.63 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Crane.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, October 22nd. The conglomerate reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.16. Crane had a return on equity of 23.29% and a net margin of 6.76%. The firm had revenue of $855.80 million during the quarter, compared to the consensus estimate of $855.87 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Crane from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, July 27th. Stifel Nicolaus upped their price target on Crane from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, UBS Group upgraded Crane from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Monday, July 30th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $108.13.

In other Crane news, Director James L. L. Tullis acquired 400 shares of the business’s stock in a transaction on Monday, November 5th. The shares were acquired at an average price of $90.62 per share, with a total value of $36,248.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kristian Robert Salovaara sold 13,367 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $89.53, for a total value of $1,196,747.51. Following the completion of the transaction, the vice president now directly owns 34,863 shares in the company, valued at approximately $3,121,284.39. The disclosure for this sale can be found here. In the last three months, insiders sold 23,767 shares of company stock worth $2,159,088. Insiders own 3.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Janney Capital Management LLC lifted its position in shares of Crane by 11.4% during the 2nd quarter. Janney Capital Management LLC now owns 5,928 shares of the conglomerate’s stock valued at $475,000 after buying an additional 609 shares during the last quarter. Creative Planning lifted its position in shares of Crane by 3.0% during the 3rd quarter. Creative Planning now owns 24,878 shares of the conglomerate’s stock valued at $2,447,000 after buying an additional 714 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Crane by 2.1% during the 3rd quarter. Arizona State Retirement System now owns 35,970 shares of the conglomerate’s stock valued at $3,538,000 after buying an additional 737 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Crane by 9.1% during the 2nd quarter. Brown Advisory Inc. now owns 8,898 shares of the conglomerate’s stock valued at $713,000 after buying an additional 744 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Crane by 4.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,748 shares of the conglomerate’s stock valued at $1,582,000 after buying an additional 771 shares during the last quarter. 69.43% of the stock is currently owned by institutional investors and hedge funds.

Crane stock traded down $0.98 during trading on Friday, hitting $86.03. 5,100 shares of the company were exchanged, compared to its average volume of 321,471. Crane has a 52 week low of $78.93 and a 52 week high of $102.65. The company has a market capitalization of $5.17 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. The company has a current ratio of 1.68, a quick ratio of 1.19 and a debt-to-equity ratio of 0.61.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.40 annualized dividend and a yield of 1.63%. Crane’s dividend payout ratio is currently 30.91%.

About Crane

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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