Crane (NYSE:CR) Releases FY24 Earnings Guidance

Crane (NYSE:CR) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $5.05-$5.20 for the period, compared to the consensus earnings per share estimate of $5.10. The company issued revenue guidance of $2.31 billion, compared to the consensus revenue estimate of $2.33 billion. Crane also updated its FY 2024 guidance to 5.050-5.200 EPS.

Crane Price Performance

Shares of CR traded down $2.20 on Thursday, reaching $159.48. The stock had a trading volume of 94,381 shares, compared to its average volume of 232,343. Crane has a twelve month low of $93.53 and a twelve month high of $163.48. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $154.58 and a 200 day moving average of $148.55. The firm has a market capitalization of $9.12 billion, a PE ratio of 35.68, a PEG ratio of 1.93 and a beta of 0.77.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company had revenue of $597.20 million for the quarter, compared to analyst estimates of $594.45 million. During the same quarter in the prior year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be issued a $0.205 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.51%. Crane’s dividend payout ratio (DPR) is 18.06%.

Analyst Ratings Changes

A number of research firms have weighed in on CR. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus lifted their price objective on shares of Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.33.

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.