Crane NXT (NYSE:CXT) Releases FY24 Earnings Guidance

Crane NXT (NYSE:CXT) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Crane NXT Trading Down 0.4 %

Shares of Crane NXT stock traded down $0.24 during trading on Friday, hitting $56.68. The stock had a trading volume of 406,882 shares, compared to its average volume of 349,353. The stock has a 50 day simple moving average of $56.17 and a 200 day simple moving average of $58.75. The company has a market capitalization of $3.24 billion, a PE ratio of 18.13 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 1 year low of $49.66 and a 1 year high of $64.80.

Crane NXT (NYSE:CXT) last released its 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. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The business had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts expect that Crane NXT will post 4.27 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s payout ratio is presently 20.38%.

Analysts Set New Price Targets

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

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.