Crane NXT (NYSE:CXT) Updates FY24 Earnings Guidance

Crane NXT (NYSE:CXT) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $4.22-4.30 for the period, compared to the consensus EPS 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 %

Shares of Crane NXT stock opened at $56.68 on Friday. The business has a fifty day simple moving average of $56.13 and a 200 day simple moving average of $58.72. The stock has a market cap of $3.24 billion, a PE ratio of 18.05 and a beta of 1.33. 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.

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 return on equity of 24.25% and a net margin of 12.97%. The company had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the prior year, the business posted $1.09 EPS. Crane NXT’s revenue was up 14.3% on a year-over-year basis. Research analysts predict that Crane NXT will post 4.27 EPS for the current year.

Crane NXT Announces Dividend

The company 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 dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. Crane NXT’s dividend payout ratio is 20.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CXT shares. DA Davidson restated a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Baird R W raised Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Robert W. Baird increased their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday. Finally, 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 research report on Monday, October 7th.

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.