Zacks: Analysts Anticipate Crane Co. (CR) Will Announce Quarterly Sales of $709.46 Million

Wall Street brokerages expect Crane Co. (NYSE:CR) to announce sales of $709.46 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Crane’s earnings. The highest sales estimate is $728.00 million and the lowest is $697.50 million. Crane posted sales of $681.40 million during the same quarter last year, which suggests a positive year over year growth rate of 4.1%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 29th.

On average, analysts expect that Crane will report full-year sales of $709.46 million for the current financial year, with estimates ranging from $2.77 billion to $2.80 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.89 billion per share, with estimates ranging from $2.86 billion to $2.93 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Crane.

Crane (NYSE:CR) last released its earnings results on Monday, October 23rd. The conglomerate reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.03. Crane had a net margin of 4.96% and a return on equity of 20.70%. The firm had revenue of $695.90 million during the quarter, compared to analyst estimates of $679.77 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

Several research firms have weighed in on CR. Scotiabank reiterated a “buy” rating on shares of Crane in a research note on Tuesday, October 10th. Seaport Global Securities upgraded shares of Crane from a “neutral” rating to a “buy” rating and boosted their target price for the company from $78.00 to $95.00 in a research note on Thursday, October 26th. Bank of America boosted their target price on shares of Crane from $90.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Canaccord Genuity reissued a “buy” rating on shares of Crane in a report on Friday, November 3rd. Finally, Stifel Nicolaus boosted their price target on shares of Crane from $85.00 to $87.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $93.83.

In related news, VP Augustus I. Dupont sold 11,130 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $86.28, for a total value of $960,296.40. Following the completion of the sale, the vice president now owns 84,116 shares of the company’s stock, valued at $7,257,528.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP A D. Pantaleoni sold 4,650 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $83.11, for a total transaction of $386,461.50. Following the completion of the sale, the vice president now directly owns 1,076 shares of the company’s stock, valued at approximately $89,426.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,403 shares of company stock valued at $1,896,288. Corporate insiders own 3.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its holdings in Crane by 33.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the conglomerate’s stock valued at $127,000 after acquiring an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crane by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 140 shares during the last quarter. Howe & Rusling Inc. lifted its holdings in Crane by 88.5% in the 3rd quarter. Howe & Rusling Inc. now owns 2,252 shares of the conglomerate’s stock valued at $180,000 after acquiring an additional 1,057 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in Crane by 54.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 800 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in Crane in the 3rd quarter valued at about $209,000. 68.30% of the stock is owned by institutional investors and hedge funds.

Shares of Crane (CR) opened at $91.06 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.96 and a debt-to-equity ratio of 0.54. Crane has a 12 month low of $67.62 and a 12 month high of $91.37. The firm has a market cap of $5,430.00, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17.

The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Wednesday, November 29th. Crane’s dividend payout ratio (DPR) is 58.93%.

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About Crane

Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.

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Earnings History and Estimates for Crane (NYSE:CR)

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