Crane (NYSE:CR – Get Free Report) announced its quarterly earnings results on Monday. The conglomerate reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06, Briefing.com reports. The firm had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. Crane updated its FY24 guidance to $4.95-$5.15 EPS and its FY 2024 guidance to 4.950-5.150 EPS.
Crane Stock Performance
Shares of CR stock traded up $7.95 during trading hours on Wednesday, reaching $159.37. 82,779 shares of the company traded hands, compared to its average volume of 238,668. The firm has a 50-day moving average price of $146.69 and a 200 day moving average price of $136.33. The company has a market cap of $9.11 billion, a P/E ratio of 40.65, a P/E/G ratio of 1.93 and a beta of 0.81. Crane has a 12-month low of $82.57 and a 12-month high of $162.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88.
Crane Dividend Announcement
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 given a $0.205 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.82 annualized dividend and a yield of 0.51%. Crane’s payout ratio is 21.98%.
Analysts Set New Price Targets
View Our Latest Stock Report on CR
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.
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