Crane (NYSE:CR) issued its earnings results on Sunday. The conglomerate reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.10), MarketWatch Earnings reports. The firm had revenue of $728.90 million during the quarter, compared to analyst estimates of $736.22 million. Crane had a net margin of 0.71% and a return on equity of 18.09%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter last year, the business posted $1.58 earnings per share.
Shares of CR traded down $1.33 during mid-day trading on Tuesday, hitting $77.26. 34,074 shares of the company’s stock were exchanged, compared to its average volume of 312,910. Crane has a 52 week low of $36.77 and a 52 week high of $89.54. The stock’s 50-day simple moving average is $78.46 and its 200-day simple moving average is $62.88. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 199.61 and a beta of 1.65. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.56.
Several research analysts have weighed in on the stock. DA Davidson cut shares of Crane from a “buy” rating to a “neutral” rating and increased their price target for the company from $75.00 to $80.00 in a report on Thursday, January 7th. TheStreet raised shares of Crane from a “c” rating to a “b-” rating in a report on Friday, November 20th. Stifel Nicolaus increased their price target on shares of Crane from $72.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Finally, Vertical Research raised shares of Crane from a “hold” rating to a “buy” rating in a report on Thursday, January 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Crane currently has a consensus rating of “Buy” and a consensus price target of $68.83.
Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.
Further Reading: Initial Public Offering (IPO)
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