FBR Capital Maintains a 'Market Perform' on Crane (CR); Impressive Beat and Raise; Risk-Reward Appears Balanced Following Recent Stock Run
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Price: $218.34 -0.32%
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
20 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Crane (NYSE: CR), PT increased to $51.
FBR analyst says, "There were several positive surprises in Crane’s impressive 1Q EPS beat (operating EPS $0.76 vs. FBR/consensus $0.63/$0.65) including (1) a sharp pickup in Aero revenues (26% of total) to +21% YOY vs. Crane’s previous 2011 expectation of 7-9%, (2) upside in Engineered Materials with margins up to 16.4% vs. 7.8% in 4Q as pricing actions gained traction, (3) Fluid backlog up 12% sequentially as latecycle Chempharma and Energy markets start coming back, and (4) a 9% boost to management’s recently provided 2011 guidance following better March results and increased confidence in the full-year outlook. Looking ahead, Crane remains well positioned to benefit from a momentum pickup in its late cycle Fluid and Aero markets and given solid 1Q volume, margin and backlog trends across businesses, we are increasing our 2011 and 2012 EPS to $3.40 and $3.80."
For more ratings news on Crane click here and for the rating history of Crane click here.
Shares of Crane closed at $48.79 yesterday.
FBR analyst says, "There were several positive surprises in Crane’s impressive 1Q EPS beat (operating EPS $0.76 vs. FBR/consensus $0.63/$0.65) including (1) a sharp pickup in Aero revenues (26% of total) to +21% YOY vs. Crane’s previous 2011 expectation of 7-9%, (2) upside in Engineered Materials with margins up to 16.4% vs. 7.8% in 4Q as pricing actions gained traction, (3) Fluid backlog up 12% sequentially as latecycle Chempharma and Energy markets start coming back, and (4) a 9% boost to management’s recently provided 2011 guidance following better March results and increased confidence in the full-year outlook. Looking ahead, Crane remains well positioned to benefit from a momentum pickup in its late cycle Fluid and Aero markets and given solid 1Q volume, margin and backlog trends across businesses, we are increasing our 2011 and 2012 EPS to $3.40 and $3.80."
For more ratings news on Crane click here and for the rating history of Crane click here.
Shares of Crane closed at $48.79 yesterday.
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