Crane (NYSE:CR) Issues 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 during mid-day trading on Thursday, hitting $159.48. 94,381 shares of the stock were exchanged, compared to its average volume of 232,343. 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 $9.12 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Crane has a 52-week low of $93.53 and a 52-week high of $163.48. The firm has a 50-day moving average of $154.58 and a two-hundred day moving average of $148.55.

Crane (NYSE:CR) last announced its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $597.20 million during the quarter, compared to the consensus estimate of $594.45 million. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Crane will post 7.87 earnings per share for the current year.

Crane Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crane from $175.00 to $182.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Stifel Nicolaus upped their price objective on Crane from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Crane presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.33.

About Crane

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.