Crane NXT (NYSE:CXT) Announces Earnings Results, Misses Estimates By $0.01 EPS

Crane NXT (NYSE:CXT) announced its quarterly earnings results on Wednesday. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01), Briefing.com reports. The firm had revenue of $313.60 million during the quarter, compared to the consensus estimate of $311.72 million. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. Crane NXT updated its FY24 guidance to $4.10-4.35 EPS and its FY 2024 guidance to 4.100-4.350 EPS.

Crane NXT Price Performance

CXT stock traded down $0.61 during midday trading on Friday, hitting $60.01. The company’s stock had a trading volume of 34,245 shares, compared to its average volume of 328,913. Crane NXT has a 12 month low of $48.19 and a 12 month high of $63.89. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 18.53 and a beta of 1.36. The company has a 50 day moving average of $60.83 and a two-hundred day moving average of $57.21.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.07%. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, February 28th. Crane NXT’s dividend payout ratio is presently 19.57%.

Analyst Ratings Changes

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

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.