Crane (NYSE:CR) Issues FY24 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.75-5.05 for the period, compared to the consensus estimate of $4.82. The company issued revenue guidance of $2.30 billion, compared to the consensus revenue estimate of $2.25 billion. Crane also updated its FY 2024 guidance to 4.750-5.050 EPS.

Crane Price Performance

CR opened at $138.27 on Wednesday. The firm has a market cap of $7.89 billion, a P/E ratio of 37.47, a PEG ratio of 1.93 and a beta of 1.49. The firm has a 50-day moving average of $130.01 and a 200 day moving average of $115.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. Crane has a fifty-two week low of $67.28 and a fifty-two week high of $139.54.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, research analysts expect that Crane will post 7.87 EPS for the current year.

Crane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, May 31st. Crane’s dividend payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CR. Stifel Nicolaus raised their price objective on Crane from $135.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Bank of America lifted their price objective on Crane from $110.00 to $140.00 and gave the stock a buy rating in a report on Tuesday, March 5th. StockNews.com downgraded Crane from a buy rating to a hold rating in a research note on Friday, April 19th. Finally, Vertical Research upgraded Crane from a hold rating to a buy rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $125.00.

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.