Crane NXT (NYSE:CXT) Issues Quarterly Earnings Results

Crane NXT (NYSE:CXT - Get Free Report) announced its quarterly earnings data 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 net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $403.50 million during the quarter, compared to the consensus estimate of $392.44 million. During the same quarter last year, the firm posted $1.09 EPS. The company's quarterly 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 0.4 %

Shares of CXT stock opened at $56.68 on Friday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.05 and a beta of 1.33. The company's fifty day simple moving average is $56.13 and its two-hundred day simple moving average is $58.72. Crane NXT has a 1 year low of $49.66 and a 1 year high of $64.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87.

Crane NXT Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on CXT shares. Northland Securities decreased their price objective on 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 upped their price target on Crane NXT from $77.00 to $78.00 and gave the stock an "outperform" rating in a report on Friday. DA Davidson restated a "buy" rating and set a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Finally, Baird R W raised shares of 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.