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

Crane NXT (NYSE:CXT) announced its quarterly earnings data on Wednesday. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03, Briefing.com reports. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The business had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. 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 Stock Up 0.2 %

CXT traded up $0.10 during trading on Thursday, reaching $57.12. The company had a trading volume of 479,452 shares, compared to its average volume of 347,869. The company has a market cap of $3.26 billion, a P/E ratio of 17.76 and a beta of 1.33. Crane NXT has a 12 month low of $49.40 and a 12 month high of $64.80. 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 business’s fifty day moving average price is $56.20 and its 200 day moving average price is $58.77.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Northland Securities decreased their price objective 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. Robert W. Baird assumed coverage on Crane NXT in a research note on Thursday, October 17th. They set an “outperform” rating and a $77.00 price objective for the company. DA Davidson reaffirmed a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

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.