Crane NXT (NYSE:CXT) Issues FY24 Earnings Guidance

Crane NXT (NYSE:CXT) updated its FY24 earnings guidance on Wednesday. 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

A number of research firms have recently weighed in on CXT. Baird R W raised Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities cut their price target 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. DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Finally, Robert W. Baird increased their price objective on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday.

Crane NXT Stock Down 0.4 %

Shares of NYSE CXT traded down $0.24 during mid-day trading on Friday, reaching $56.68. 406,882 shares of the company traded hands, compared to its average volume of 349,353. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The stock has a market cap of $3.24 billion, a PE ratio of 18.13 and a beta of 1.33. The company’s fifty day moving average is $56.17 and its two-hundred day moving average is $58.75. Crane NXT has a fifty-two week low of $49.66 and a fifty-two week high of $64.80.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The business had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. On average, analysts expect that Crane NXT will post 4.27 earnings per share for the current year.

Crane NXT Dividend Announcement

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