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

Crane NXT (NYSE:CXT) posted its earnings results on Wednesday. The company reported $1.16 earnings per share for the quarter, beating 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 company had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. During the same quarter last year, the company earned $1.09 earnings per share. The company’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 Stock Performance

Shares of NYSE CXT traded down $0.10 during mid-day trading on Thursday, hitting $56.92. The company had a trading volume of 742,648 shares, compared to its average volume of 349,087. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 17.76 and a beta of 1.33. Crane NXT has a 1 year low of $49.40 and a 1 year high of $64.80. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average price is $56.20 and its 200-day moving average price is $58.77.

Crane NXT Announces Dividend

The business 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 $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is presently 20.38%.

Analyst Ratings Changes

A number of analysts recently commented on CXT shares. DA Davidson reiterated a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Robert W. Baird started coverage on Crane NXT in a report on Thursday, October 17th. They set an “outperform” rating and a $77.00 price target on the stock. Northland Securities dropped their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. 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.