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 guidance of $4.75-5.05 for the period, compared to the consensus earnings per share 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 traded up $1.23 during trading on Thursday, reaching $143.36. 78,922 shares of the company traded hands, compared to its average volume of 241,079. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.18. The company has a market cap of $8.18 billion, a P/E ratio of 38.55, a PEG ratio of 1.93 and a beta of 1.49. Crane has a 12-month low of $67.28 and a 12-month high of $143.67. The firm has a fifty day simple moving average of $130.01 and a 200 day simple moving average of $115.65.

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

Crane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 31st will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.57%. Crane’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com downgraded Crane from a buy rating to a hold rating in a research report on Friday, April 19th. DA Davidson raised their price target on Crane from $142.00 to $160.00 and gave the stock a buy rating in a research report on Wednesday. Bank of America raised their price target on Crane from $110.00 to $140.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Stifel Nicolaus increased their target price on Crane from $150.00 to $157.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Vertical Research upgraded Crane from a hold rating to a buy rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $137.00.

Crane Company Profile

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.