Crane (NYSE:CR) to Issue $0.21 Quarterly Dividend

Crane (NYSE:CR) announced a quarterly dividend on Monday, October 28th,RTT News reports. Shareholders of record on Friday, November 29th will be given 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 0.45%. The ex-dividend date is Friday, November 29th.

Crane has a payout ratio of 13.9% indicating that 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 Trading Down 1.8 %

Shares of CR stock opened at $181.72 on Thursday. The firm has a market capitalization of $10.40 billion, a PE ratio of 40.03, 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. Crane has a 52-week low of $102.80 and a 52-week high of $188.52. The stock has a fifty day simple moving average of $163.28 and a two-hundred day simple moving average of $153.34.

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

Analyst Ratings Changes

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

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.