Crane NXT (NYSE:CXT) Announces Earnings Results

Crane NXT (NYSE:CXT) announced its earnings results on Wednesday. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02, Briefing.com reports. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business’s revenue for the quarter 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 0.4 %

CXT opened at $56.68 on Friday. Crane NXT has a fifty-two week low of $49.66 and a fifty-two week high of $64.80. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 18.05 and a beta of 1.33. 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 firm has a 50 day simple moving average of $56.13 and a 200 day simple moving average of $58.72.

Crane NXT Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CXT. DA Davidson reissued a “buy” rating and set a $100.00 price objective on shares of Crane NXT in a report on Monday, September 30th. Northland Securities lowered their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird boosted their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a research 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.