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FY2023 EPS Estimates for Crane Holdings, Co. (NYSE:CR) Reduced by Analyst

Financial News Live · Jan 27, 2023 07:55

Crane Holdings, Co. (NYSE:CR – Get Rating) – DA Davidson dropped their FY2023 earnings per share (EPS) estimates for Crane in a note issued to investors on Wednesday, January 25th. DA Davidson analyst M. Summerville now forecasts that the conglomerate will post earnings per share of $8.00 for the year, down from their previous forecast of $8.35. The consensus estimate for Crane's current full-year earnings is $8.16 per share. DA Davidson also issued estimates for Crane's FY2024 earnings at $8.70 EPS.

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Crane (NYSE:CR – Get Rating) last announced its quarterly earnings results on Monday, January 23rd. The conglomerate reported $2.13 EPS for the quarter, beating the consensus estimate of $1.90 by $0.23. Crane had a return on equity of 24.43% and a net margin of 13.10%. The company had revenue of $824.10 million for the quarter, compared to the consensus estimate of $819.89 million. During the same quarter last year, the company posted $1.25 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year.

Other research analysts have also recently issued reports about the company. Morgan Stanley raised Crane from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $116.00 to $129.00 in a report on Monday, December 12th. Stifel Nicolaus decreased their target price on Crane from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Tuesday, October 11th. TheStreet upgraded Crane from a "c+" rating to a "b-" rating in a research report on Thursday, November 10th. Finally, StockNews.com lowered Crane from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 26th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $128.75.

Crane Trading Up 1.0 %

Shares of Crane stock opened at $116.94 on Friday. The company's fifty day simple moving average is $104.06 and its 200-day simple moving average is $99.27. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.52 and a beta of 1.51. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 0.28. Crane has a 1 year low of $82.14 and a 1 year high of $116.95.

Crane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, February 27th. Crane's payout ratio is presently 24.90%.

Insider Buying and Selling

In related news, SVP Kurt F. Gallo sold 2,750 shares of the business's stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total transaction of $290,207.50. Following the transaction, the senior vice president now directly owns 25,845 shares of the company's stock, valued at approximately $2,727,422.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Max H. Mitchell sold 117,103 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $104.40, for a total transaction of $12,225,553.20. Following the sale, the chief executive officer now directly owns 347,460 shares of the company's stock, valued at approximately $36,274,824. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kurt F. Gallo sold 2,750 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $105.53, for a total value of $290,207.50. Following the sale, the senior vice president now directly owns 25,845 shares in the company, valued at $2,727,422.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,409 shares of company stock valued at $15,809,162. 2.40% of the stock is owned by insiders.

Institutional Trading of Crane

Several institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in shares of Crane by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,050 shares of the conglomerate's stock worth $1,411,000 after buying an additional 108 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Crane by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the conglomerate's stock valued at $1,286,000 after purchasing an additional 100 shares in the last quarter. Xponance Inc. grew its holdings in shares of Crane by 12.1% during the fourth quarter. Xponance Inc. now owns 6,287 shares of the conglomerate's stock worth $632,000 after purchasing an additional 681 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Crane by 4.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,556 shares of the conglomerate's stock worth $11,105,000 after purchasing an additional 4,657 shares during the last quarter. Finally, Griffin Asset Management Inc. boosted its position in Crane by 0.7% during the 4th quarter. Griffin Asset Management Inc. now owns 40,490 shares of the conglomerate's stock worth $4,067,000 after buying an additional 300 shares during the period. 70.83% of the stock is currently owned by institutional investors.

About Crane

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Crane Holdings Co engages in the management of a subsidiary, which manufacture aerospace equipment, electronics systems, and flow control systems. The company was founded on December 2, 2021 and is headquartered in Stamford, CT.