Crane (CR) to Issue Quarterly Dividend of $0.21 on December 11th

Crane (NYSE:CR) announced a quarterly dividend on Monday, October 28th,RTT News reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.205 per share by the conglomerate on Wednesday, December 11th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, November 29th.

Crane has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Stock Performance

Crane stock opened at $185.12 on Wednesday. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 1.93 and a beta of 0.81. 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 stock’s 50 day simple moving average is $162.63 and its two-hundred day simple moving average is $153.05. Crane has a fifty-two week low of $102.80 and a fifty-two week high of $188.52.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating the consensus estimate of $1.32 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The business had revenue of $597.20 million during the quarter, compared to analyst estimates of $594.45 million. During the same quarter last year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Stifel Nicolaus downgraded shares of Crane from a “buy” rating to a “hold” rating and set a $176.00 price objective on the stock. in a research report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

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.