Crane NXT (NYSE:CXT – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.10-4.35 for the period, compared to the consensus earnings per share estimate of $4.26. The company issued revenue guidance of $1.46-1.50 billion, compared to the consensus revenue estimate of $1.40 billion.
Analyst Upgrades and Downgrades
CXT has been the subject of several analyst reports. Northland Securities started coverage on shares of Crane NXT in a research report on Monday, April 8th. They set an outperform rating and a $91.00 price target for the company. DA Davidson boosted their price objective on shares of Crane NXT from $80.00 to $100.00 and gave the company a buy rating in a report on Monday, March 18th.
Read Our Latest Stock Analysis on Crane NXT
Crane NXT Stock Performance
Crane NXT (NYSE:CXT – Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. The company had revenue of $356.90 million during the quarter, compared to analysts’ expectations of $340.89 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. Crane NXT’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. On average, equities research analysts forecast that Crane NXT will post 4.26 EPS for the current fiscal year.
Crane NXT Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. Crane NXT’s dividend payout ratio is 19.57%.
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.
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