Crane NXT (NYSE:CXT) Announces Quarterly Earnings Results

Crane NXT (NYSE:CXT) posted its quarterly earnings data on Wednesday. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01), Briefing.com reports. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The business had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. During the same quarter last year, the firm earned $0.96 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. 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 Trading Down 2.2 %

Shares of NYSE CXT traded down $1.38 during mid-day trading on Thursday, reaching $60.60. 464,397 shares of the company’s stock were exchanged, compared to its average volume of 332,244. 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 firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 18.53 and a beta of 1.36. The company’s 50-day moving average is $60.78 and its 200-day moving average is $57.19. Crane NXT has a 52-week low of $48.19 and a 52-week high of $63.89.

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s dividend payout ratio (DPR) is currently 19.57%.

Analyst Ratings Changes

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

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.