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

Crane NXT (NYSE:CXT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 4.100-4.350 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Crane NXT also updated its FY24 guidance to $4.10-4.35 EPS.

Crane NXT Stock Performance

Shares of NYSE CXT traded down $0.71 during trading on Wednesday, reaching $61.97. The stock had a trading volume of 252,710 shares, compared to its average volume of 330,727. The stock has a market cap of $3.54 billion, a PE ratio of 18.98 and a beta of 1.36. The firm’s 50 day moving average price is $60.70 and its two-hundred day moving average price is $57.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93. Crane NXT has a one year low of $48.19 and a one year high of $63.89.

Crane NXT (NYSE:CXT) last released its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The business had revenue of $356.90 million for the quarter, compared to the consensus estimate of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. On average, research analysts forecast that Crane NXT will post 4.26 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a $0.16 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s dividend payout ratio (DPR) is currently 19.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Northland Securities assumed coverage on shares of Crane NXT in a research note on Monday, April 8th. They set an outperform rating and a $91.00 price target on the stock. DA Davidson increased their price objective on Crane NXT from $80.00 to $100.00 and gave the stock a buy rating in a research note on Monday, March 18th.

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.