Crane NXT (NYSE:CXT) Updates FY 2024 Earnings Guidance

Crane NXT (NYSE:CXT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.220-4.300 for the period, compared to the consensus earnings per share estimate of 4.260. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Crane NXT also updated its FY24 guidance to $4.22-4.30 EPS.

Crane NXT Price Performance

Crane NXT stock traded down $0.24 during midday trading on Friday, reaching $56.68. 406,882 shares of the stock traded hands, compared to its average volume of 353,487. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. Crane NXT has a 12 month low of $49.66 and a 12 month high of $64.80. The stock’s fifty day moving average is $56.13 and its 200-day moving average is $58.69. The stock has a market cap of $3.24 billion, a P/E ratio of 18.58 and a beta of 1.33.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 24.05%. The firm had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same quarter last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Crane NXT will post 4.27 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Crane NXT’s payout ratio is 20.98%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CXT. DA Davidson reissued a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Northland Securities dropped their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th.

About Crane NXT

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.