FY2024 Earnings Forecast for Crane NXT Issued By DA Davidson

Crane NXT, Co. (NYSE:CXT - Free Report) - Research analysts at DA Davidson reduced their FY2024 earnings estimates for shares of Crane NXT in a research note issued to investors on Friday, November 8th. DA Davidson analyst M. Summerville now expects that the company will post earnings per share of $4.25 for the year, down from their prior forecast of $4.28. DA Davidson has a "Buy" rating and a $100.00 price target on the stock. The consensus estimate for Crane NXT's current full-year earnings is $4.26 per share. DA Davidson also issued estimates for Crane NXT's Q4 2024 earnings at $1.18 EPS.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The company had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. During the same period last year, the business posted $1.09 EPS. Crane NXT's quarterly revenue was up 14.3% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the company. Baird R W upgraded Crane NXT to a "strong-buy" rating in a research note on Thursday, October 17th. Northland Securities lowered their price target on shares of Crane NXT from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird boosted their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday.

Crane NXT Stock Down 0.6 %

Crane NXT stock traded down $0.31 during mid-day trading on Monday, reaching $56.37. 300,002 shares of the company were exchanged, compared to its average volume of 349,127. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 1.38. The firm has a market cap of $3.22 billion, a P/E ratio of 18.48 and a beta of 1.33. The business has a fifty day moving average of $56.08 and a 200 day moving average of $58.61. Crane NXT has a 12-month low of $50.31 and a 12-month high of $64.80.

Hedge Funds Weigh In On Crane NXT

Several hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Crane NXT by 64.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,891 shares of the company's stock worth $3,360,000 after acquiring an additional 23,580 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Crane NXT by 9.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,910 shares of the company's stock valued at $949,000 after buying an additional 1,473 shares during the period. Quest Partners LLC purchased a new stake in shares of Crane NXT in the third quarter worth about $181,000. Prudent Man Advisors LLC raised its position in Crane NXT by 27.8% during the third quarter. Prudent Man Advisors LLC now owns 10,646 shares of the company's stock valued at $597,000 after acquiring an additional 2,319 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Crane NXT by 1.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,923 shares of the company's stock valued at $725,000 after acquiring an additional 245 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, November 29th. Crane NXT's dividend payout ratio is presently 20.98%.

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.