Crane (NYSE:CR) Issues FY24 Earnings Guidance

Crane (NYSE:CR) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $5.05-$5.20 for the period, compared to the consensus EPS estimate of $5.10. The company issued revenue guidance of $2.31 billion, compared to the consensus revenue estimate of $2.33 billion.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CR. Stifel Nicolaus raised their target price on shares of Crane from $168.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.33.

Crane Trading Up 2.2 %

Shares of CR stock traded up $3.33 during trading hours on Monday, reaching $152.39. 425,449 shares of the stock were exchanged, compared to its average volume of 230,714. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. Crane has a 12-month low of $91.35 and a 12-month high of $163.48. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 39.96, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The company’s 50-day moving average price is $154.09 and its 200-day moving average price is $148.18.

Crane (NYSE:CR) last released its earnings results on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.06. Crane had a return on equity of 24.45% and a net margin of 13.10%. The firm had revenue of $581.00 million for the quarter, compared to analysts’ expectations of $568.33 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts anticipate that Crane will post 7.87 earnings per share for the current year.

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.