Crane Co. (CR) to Post FY2016 Earnings of $4.18 Per Share, Seaport Global Securities Forecasts
Crane Co. (NYSE:CR) – Equities research analysts at Seaport Global Securities decreased their FY2016 EPS estimates for Crane in a research note issued on Wednesday. Seaport Global Securities analyst R. Cassil now anticipates that the brokerage will earn $4.18 per share for the year, down from their prior forecast of $4.19. Seaport Global Securities also issued estimates for Crane’s Q1 2017 earnings at $0.92 EPS, Q2 2017 earnings at $1.16 EPS, Q4 2017 earnings at $1.12 EPS and FY2017 earnings at $4.26 EPS.
Several other equities analysts have also recently issued reports on the stock. Credit Suisse Group AG reiterated a “hold” rating on shares of Crane in a research report on Friday, August 5th. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price objective on the stock in a report on Friday, July 29th. RBC Capital Markets restated a “sector perform” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Crane in a report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Wednesday, July 27th. Finally, Royal Bank Of Canada upped their price objective on shares of Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Crane currently has an average rating of “Hold” and an average price target of $62.00.
Crane (NYSE:CR) traded down 2.73% during trading on Friday, hitting $62.29. 75,871 shares of the company’s stock traded hands. The stock has a market cap of $3.64 billion, a P/E ratio of 14.97 and a beta of 1.43. The company’s 50 day moving average is $63.74 and its 200-day moving average is $57.37. Crane has a 12 month low of $41.68 and a 12 month high of $65.88.
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Crane (NYSE:CR) last posted its earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.19. Crane had a net margin of 9.01% and a return on equity of 21.25%. The firm had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. During the same quarter last year, the firm earned $1.06 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year.
In related news, Director Philip R. Lochner sold 4,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $64.90, for a total transaction of $259,600.00. Following the transaction, the director now owns 2,350 shares in the company, valued at $152,515. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP A D. Pantaleoni sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total transaction of $313,700.00. Following the transaction, the vice president now owns 9,876 shares in the company, valued at approximately $619,620.24. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 31st will be given a dividend of $0.33 per share. The ex-dividend date is Monday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 2.06%. Crane’s dividend payout ratio (DPR) is 31.73%.
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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