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

Crane NXT (NYSE:CXT) issued its quarterly earnings data 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. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The firm had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. During the same period in the previous year, the firm earned $0.96 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. 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

NYSE:CXT traded down $1.38 during trading hours on Thursday, hitting $60.60. The company’s stock had a trading volume of 464,397 shares, compared to its average volume of 332,244. The company has a market capitalization of $3.46 billion, a PE ratio of 18.95 and a beta of 1.36. Crane NXT has a 52-week low of $48.19 and a 52-week high of $63.89. The business’s 50-day moving average is $60.78 and its two-hundred day moving average is $57.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.46 and a current ratio of 1.93.

Crane NXT Increases Dividend

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

Analyst Ratings Changes

CXT has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Northland Securities began coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price for the company.

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.