Crane NXT (NYSE:CXT) Updates FY24 Earnings Guidance

Crane NXT (NYSE:CXT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.22-4.30 for the period, compared to the consensus earnings per share 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.

Crane NXT Price Performance

Shares of Crane NXT stock traded down $0.24 during trading on Friday, hitting $56.68. The stock had a trading volume of 406,882 shares, compared to its average volume of 349,353. 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 market cap of $3.24 billion, a P/E ratio of 18.13 and a beta of 1.33. The business has a fifty day moving average of $56.17 and a two-hundred day moving average of $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 announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.03. The business had revenue of $403.50 million during 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 company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, sell-side analysts expect that Crane NXT will post 4.27 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

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

Analyst Ratings Changes

CXT has been the subject of several research analyst reports. DA Davidson restated 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 boosted their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday. Northland Securities cut their target price on 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 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.