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Crane Co CR

Morningstar Rating
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Stock XNYS Rating as of
$142.13 +4.02 (2.91%)
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As of Delayed Price Closed
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Company Report

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Crane Earnings: Strong Orders and Growing Backlog Drive Improved 2024 Outlook

Krzysztof Smalec

We’re raising our fair value estimate for narrow-moat-rated Crane to $110 per share from $100 after the company reported strong first-quarter results. We were encouraged to see Crane’s first-quarter core orders and core backlog both increase by 11% from the same period last year. Management raised its outlook for 2024 and now anticipates core sales growth of 4%-6% (up from 3%-5%) and adjusted earnings per share of $4.75-$5.05 (up from $4.55-$4.85). Our fair value estimate increase reflects our more optimistic 2024 revenue growth and operating margin assumptions as well as the time value of money.

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Price vs Fair Value

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CR is trading at a 31% premium.
Price
$130.73
Fair Value
$238.00
Uncertainty
Medium
1-Star Price
$968.00
5-Star Price
$56.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Crane owns a portfolio of moatworthy businesses that enjoy leading share in niche end markets.

Bears

We expect the company to continue to pursue strategic acquisitions, and poor execution of its M&A strategy could destroy shareholder value.

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News

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Trading Information

Previous Close Price
$138.11
Day Range
$139.98–143.67
52-Week Range
$67.28–143.67
Bid/Ask
$140.00 / $145.00
Market Cap
$8.11 Bil
Volume/Avg
496,653 / 222,222

Key Statistics

Price/Earnings (Normalized)
33.21
Price/Sales
3.92
Dividend Yield (Trailing)
0.52%
Dividend Yield (Forward)
0.58%
Total Yield
0.54%

Company Profile

Crane is a diversified industrial firm that manufactures a broad range of products, including valves, pumps, aerospace components, and fiberglass-reinforced plastic panels. Its business is organized into three segments: aerospace and electronics, process flow technologies, and engineered materials. Crane generated approximately $2.1 billion in revenue in 2023.
Sector
Industrials
Industry
Specialty Industrial Machinery
Stock Style Box
Small Core
Total Number of Employees
7,300
Website
https://www.craneco.com

Competitors

Valuation

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Metric
CR
IEX
PNR
Price/Earnings (Normalized)
 33.2128.0420.89
Price/Book Value
 5.784.713.94
Price/Sales
 3.925.283.22
Price/Cash Flow
 —25.4918.81
Price/Earnings
CR
IEX
PNR

Financial Strength

Metric
CR
IEX
PNR
Quick Ratio
 1.362.290.85
Current Ratio
 2.343.371.65
Interest Coverage
 12.5416.316.23
Quick Ratio
CR
IEX
PNR

Profitability

Metric
CR
IEX
PNR
Return on Assets (Normalized)
 7.99%10.97%10.00%
Return on Equity (Normalized)
 15.81%18.92%21.46%
Return on Invested Capital (Normalized)
 12.59%13.76%14.28%
Return on Assets
CR
IEX
PNR
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