Crane (NYSE:CR) Announces Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Crane (NYSE:CR) issued its quarterly earnings data on Sunday. The conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.35, MarketWatch Earnings reports. The company had revenue of $833.50 million during the quarter, compared to the consensus estimate of $771.33 million. Crane had a net margin of 0.71% and a return on equity of 18.09%. Crane’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share.

CR stock traded up $2.76 during trading on Tuesday, hitting $97.50. 503,807 shares of the company’s stock traded hands, compared to its average volume of 274,105. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 256.59 and a beta of 1.65. Crane has a 52 week low of $44.23 and a 52 week high of $99.32. The stock has a fifty day moving average price of $94.28 and a two-hundred day moving average price of $79.18. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.56.

In related news, CFO Richard A. Maue sold 15,822 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $83.12, for a total transaction of $1,315,124.64. Following the sale, the chief financial officer now owns 93,075 shares in the company, valued at $7,736,394. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.60% of the company’s stock.

Several analysts have recently weighed in on CR shares. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. Canaccord Genuity lifted their price objective on Crane from $96.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, March 10th. Zacks Investment Research upgraded Crane from a “sell” rating to a “hold” rating and set a $80.00 target price for the company in a research note on Thursday, January 28th. Finally, DA Davidson lowered shares of Crane from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $83.25.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for 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; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.

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Earnings History for Crane (NYSE:CR)

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