Crane (NYSE:CR) Updates FY 2024 Earnings Guidance

Crane (NYSE:CR) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 4.950-5.150 for the period, compared to the consensus estimate of 5.010. The company issued revenue guidance of $2.3 billion-$2.3 billion, compared to the consensus revenue estimate of $2.3 billion. Crane also updated its FY24 guidance to $4.95-$5.15 EPS.

Crane Price Performance

Shares of CR traded up $0.25 during trading hours on Monday, hitting $159.12. 580,381 shares of the company were exchanged, compared to its average volume of 236,964. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 1.93 and a beta of 0.80. The firm’s fifty day moving average is $146.37 and its 200 day moving average is $135.74. Crane has a fifty-two week low of $82.57 and a fifty-two week high of $162.28. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, August 30th. Crane’s dividend payout ratio is currently 21.98%.

Analyst Ratings Changes

Several research firms recently issued reports on CR. Stifel Nicolaus increased their price target on shares of Crane from $157.00 to $168.00 and gave the stock a buy rating in a research report on Thursday, July 18th. DA Davidson lifted their price target on Crane from $142.00 to $160.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Vertical Research upgraded Crane from a hold rating to a buy rating in a research report on Wednesday, April 24th. StockNews.com upgraded Crane from a hold rating to a buy rating in a research report on Saturday, April 27th. Finally, UBS Group increased their target price on shares of Crane from $120.00 to $152.00 and gave the stock a neutral rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $145.50.

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.