Crane NXT (NYSE:CXT) Releases FY24 Earnings Guidance

by · The Markets Daily

Crane NXT (NYSE:CXT – Get Free Report) updated its FY24 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CXT. Robert W. Baird upped their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Northland Securities decreased their price objective on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research report on Monday, September 30th.

View Our Latest Research Report on CXT

Crane NXT Stock Performance

Shares of NYSE CXT traded down $0.24 during midday trading on Friday, hitting $56.68. 406,882 shares of the company’s stock traded hands, compared to its average volume of 349,353. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.13 and a beta of 1.33. The firm has a fifty day moving average of $56.17 and a 200 day moving average of $58.75. Crane NXT has a 1 year low of $49.66 and a 1 year high of $64.80.

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

Crane NXT Dividend Announcement

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

Crane NXT Company Profile

(Get Free Report)

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.

Further Reading