Crane NXT (NYSE:CXT) Releases FY 2024 Earnings Guidance

Crane NXT (NYSE:CXT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.100-4.350 for the period, compared to the consensus EPS estimate of 4.260. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.4 billion. Crane NXT also updated its FY24 guidance to $4.10-4.35 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CXT shares. DA Davidson upped their price target on Crane NXT from $80.00 to $100.00 and gave the company a buy rating in a research report on Monday, March 18th. Northland Securities initiated coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an outperform rating and a $91.00 price objective for the company.

Crane NXT Stock Performance

Shares of Crane NXT stock traded down $0.71 on Wednesday, hitting $61.97. 252,710 shares of the company’s stock were exchanged, compared to its average volume of 330,727. The stock has a market capitalization of $3.54 billion, a PE ratio of 18.98 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93. The company has a 50-day simple moving average of $60.70 and a 200-day simple moving average of $57.15. Crane NXT has a 1 year low of $48.19 and a 1 year high of $63.89.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The business had revenue of $356.90 million during the quarter, compared to the consensus estimate of $340.89 million. During the same quarter last year, the firm earned $2.13 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts anticipate that Crane NXT will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.16 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.03%. The ex-dividend date was Wednesday, February 28th. Crane NXT’s dividend payout ratio (DPR) is currently 19.57%.

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.