Crane NXT (NYSE:CXT) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Crane NXT (NYSE:CXT) posted its earnings results on Wednesday. The company reported $1.16 EPS for the quarter, topping the consensus estimate 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 business earned $1.09 earnings per share. The firm’s revenue 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 0.2 %

Shares of NYSE CXT traded down $0.10 during midday trading on Thursday, reaching $56.92. The company had a trading volume of 742,648 shares, compared to its average volume of 349,087. Crane NXT has a one year low of $49.40 and a one year high of $64.80. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $56.20 and its 200-day moving average price is $58.77. The stock has a market cap of $3.25 billion, a PE ratio of 17.76 and a beta of 1.33.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is presently 20.38%.

Analyst Ratings Changes

Several research firms recently commented on CXT. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities dropped 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 initiated coverage on Crane NXT in a research note on Thursday, October 17th. They set an “outperform” rating and a $77.00 price target for the company.

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.