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Investing.com - DA Davidson has reiterated its Buy rating and $230.00 price target on Crane (NYSE:CR), which is currently trading at $199.33 and near its 52-week high of $203.89, following the company’s quarterly earnings report that exceeded analyst expectations. According to InvestingPro data, the company maintains a "GREAT" financial health score of 3.15 out of 5.
Crane reported earnings per share that beat DA Davidson’s model by $0.13, driven by organic sales growth and operational performance that surpassed expectations in both the Aerospace & Electronics (A&E) and Payment & Merchandising Technologies (PFT) segments.
The industrial products manufacturer saw core orders increase nearly 2% year-over-year, while organic backlog grew by 16%, primarily due to strength in the A&E segment, bringing total backlog to $1.44 billion.
Crane’s pending acquisition of PSI remains on track to close by the end of 2025, which will add key technologies and capabilities to both the A&E and PFT segments, while post-acquisition net leverage will stand at just 1.0x, leaving more than $1.5 billion available for future acquisitions.
The company raised its earnings per share guidance by $0.20 at the midpoint, which exceeds the high end of its previous guidance range by $0.05.
In other recent news, Crane Company reported third-quarter earnings that surpassed analysts’ expectations. The company announced adjusted earnings per share of $1.64, which was notably higher than the anticipated $1.43. Revenue for the quarter reached $589.2 million, marking a 7.5% increase year-over-year, although it fell short of the consensus estimate of $608.47 million. Core sales growth was recorded at 5.6%, with contributions from the Technifab acquisition and favorable foreign exchange rates. Following these results, Crane Co. raised its full-year outlook, driven by strong performance in its Aerospace & Electronics segment. These developments come as Crane Co. continues to navigate a challenging market environment. The company’s recent performance has been a focal point for investors and analysts alike.
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