Crane NXT (NYSE:CXT) Releases FY24 Earnings Guidance

Crane NXT (NYSE:CXT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.22-4.30 for the period, compared to the consensus estimate of $4.26. The company issued revenue guidance of $1.47-1.50 billion, compared to the consensus revenue estimate of $1.49 billion. Crane NXT also updated its FY 2024 guidance to 4.220-4.300 EPS.

Crane NXT Stock Down 0.4 %

NYSE CXT traded down $0.24 during trading hours on Friday, reaching $56.68. 406,882 shares of the company traded hands, compared to its average volume of 349,353. Crane NXT has a 12 month low of $49.66 and a 12 month high of $64.80. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $3.24 billion, a PE ratio of 18.13 and a beta of 1.33. The company has a 50 day moving average of $56.17 and a two-hundred day moving average of $58.75.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Crane NXT will post 4.27 earnings per share for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. Crane NXT’s payout ratio is currently 20.38%.

Analysts Set New Price Targets

CXT has been the topic of a number of recent research reports. Northland Securities reduced their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird increased their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

Crane NXT Company Profile

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.