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

Crane NXT (NYSE:CXT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.220-4.300 for the period, compared to the consensus EPS estimate of 4.260. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Crane NXT also updated its FY24 guidance to $4.22-4.30 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Northland Securities decreased their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. 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. Finally, Robert W. Baird boosted their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday.

Crane NXT Trading Down 0.4 %

Shares of Crane NXT stock traded down $0.24 during trading hours on Friday, reaching $56.68. 406,882 shares of the company’s stock were exchanged, compared to its average volume of 353,487. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.58 and a beta of 1.33. The company has a fifty day moving average of $56.13 and a 200-day moving average of $58.69. Crane NXT has a 52-week low of $49.66 and a 52-week high of $64.80. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 24.05%. The company had revenue of $403.50 million during the quarter, compared to analyst estimates of $392.44 million. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that Crane NXT will post 4.27 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced 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. 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 (DPR) is currently 20.98%.

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.