Crane Co. (NYSE:CR) – Research analysts at Avondale Partners issued their Q3 2016 earnings estimates for shares of Crane in a research note issued on Wednesday. Avondale Partners analyst I. Maryasis forecasts that the brokerage will post earnings per share of $1.07 for the quarter. Avondale Partners has a “Market Perform” rating on the stock.
Crane (NYSE:CR) last released its earnings results on Monday, July 25th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.19. The business had revenue of $712.20 million for the quarter, compared to the consensus estimate of $697.13 million. Crane had a return on equity of 21.25% and a net margin of 9.01%. Crane’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 earnings per share.
Several other brokerages have also issued reports on CR. Credit Suisse Group AG restated a “hold” rating on shares of Crane in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. RBC Capital Markets restated a “sector perform” rating and set a $63.00 price target (up previously from $57.00) on shares of Crane in a research note on Wednesday, July 27th. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a research note on Friday, July 29th. Finally, Royal Bank Of Canada lifted their price objective on shares of Crane from $57.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $62.00.
Crane (NYSE:CR) traded up 0.23% during mid-day trading on Friday, hitting $60.89. The company had a trading volume of 50,114 shares. The firm has a market capitalization of $3.56 billion, a PE ratio of 14.64 and a beta of 1.37. The company’s 50 day moving average price is $62.68 and its 200-day moving average price is $59.11. Crane has a 12-month low of $41.68 and a 12-month high of $65.88.
Hedge funds have recently bought and sold shares of the company. Parametrica Management Ltd bought a new stake in Crane during the third quarter worth about $211,000. CenturyLink Investment Management Co bought a new stake in Crane during the third quarter worth about $1,614,000. Creative Planning increased its stake in Crane by 2,413.2% in the third quarter. Creative Planning now owns 25,710 shares of the company’s stock worth $1,620,000 after buying an additional 24,687 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Crane by 4.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 17,054 shares of the company’s stock worth $1,075,000 after buying an additional 736 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new stake in Crane during the second quarter worth about $1,282,000. 67.40% of the stock is owned by institutional investors.
In other news, insider Thomas J. Craney sold 3,915 shares of Crane stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $64.54, for a total transaction of $252,674.10. Following the completion of the sale, the insider now directly owns 20,062 shares of the company’s stock, valued at approximately $1,294,801.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Louis V. Pinkham sold 16,576 shares of Crane stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $65.32, for a total transaction of $1,082,744.32. Following the sale, the insider now directly owns 20,449 shares of the company’s stock, valued at $1,335,728.68. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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