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

Crane NXT (NYSE:CXT) posted its quarterly earnings results on Wednesday. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03, Briefing.com reports. 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 during the quarter, compared to analyst estimates of $392.44 million. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. 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 Trading Down 0.2 %

Crane NXT stock traded down $0.10 during mid-day trading on Thursday, reaching $56.92. 742,648 shares of the company traded hands, compared to its average volume of 349,087. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. Crane NXT has a 52-week low of $49.40 and a 52-week high of $64.80. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 17.76 and a beta of 1.33. The firm’s 50 day moving average price is $56.20 and its 200 day moving average price is $58.77.

Crane NXT Dividend Announcement

The business also recently declared 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 yield of 1.12%. The ex-dividend date is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is currently 20.38%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research report on Monday, September 30th. Robert W. Baird initiated coverage on shares of Crane NXT in a report on Thursday, October 17th. They set an “outperform” rating and a $77.00 price target for the company. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Northland Securities lowered 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 note 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.