Crane NXT (NYSE:CXT) Updates FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

CXT has been the topic of several research analyst reports. 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. 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. Northland Securities dropped their target price 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. Finally, Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

Crane NXT Price Performance

Crane NXT stock opened at $56.68 on Friday. Crane NXT has a 12 month low of $49.66 and a 12 month high of $64.80. The business has a 50 day simple moving average of $56.13 and a 200-day simple moving average of $58.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The stock has a market capitalization of $3.24 billion, a PE ratio of 18.05 and a beta of 1.33.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. The company had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. Equities analysts predict that Crane NXT will post 4.27 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, November 29th. Crane NXT’s dividend payout ratio is currently 20.38%.

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.