Crane NXT (NYSE:CXT) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Crane NXT (NYSE:CXT) released its earnings results on Wednesday. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03, Briefing.com reports. The company had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. Crane NXT updated its FY24 guidance to $4.22-4.30 EPS and its FY 2024 guidance to 4.220-4.300 EPS.

Crane NXT Stock Performance

CXT stock traded down $0.10 during trading on Thursday, reaching $56.92. The stock had a trading volume of 742,648 shares, compared to its average volume of 349,087. The firm has a market cap of $3.25 billion, a PE ratio of 17.76 and a beta of 1.33. 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’s 50 day moving average is $56.20 and its two-hundred day moving average is $58.77. Crane NXT has a 52 week low of $49.40 and a 52 week high of $64.80.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, November 29th. Crane NXT’s payout ratio is currently 20.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CXT. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Robert W. Baird initiated coverage on Crane NXT in a report on Thursday, October 17th. They issued an “outperform” rating and a $77.00 target price for the company. Northland Securities lowered their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th.

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.