Crane NXT (NYSE:CXT) Updates FY 2024 Earnings Guidance

by · The Markets Daily

Crane NXT (NYSE:CXT – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.220-4.300 for the period, compared to the consensus EPS estimate of 4.260. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Crane NXT also updated its FY24 guidance to $4.22-4.30 EPS.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Northland Securities lowered their price target on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Baird R W upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. DA Davidson reissued a “buy” rating and set a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Finally, Robert W. Baird initiated coverage on Crane NXT in a report on Thursday, October 17th. They issued an “outperform” rating and a $77.00 target price on the stock.

Read Our Latest Report on CXT

Crane NXT Trading Up 5.5 %

Shares of Crane NXT stock traded up $2.95 on Wednesday, hitting $56.95. 663,245 shares of the company traded hands, compared to its average volume of 347,257. The company has a market cap of $3.25 billion, a PE ratio of 18.16 and a beta of 1.33. Crane NXT has a 52 week low of $48.42 and a 52 week high of $64.80. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $56.23 and its 200-day moving average price is $58.78.

Crane NXT (NYSE:CXT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The firm had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. During the same period in the previous year, the company earned $1.12 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that Crane NXT will post 4.27 EPS for the current year.

Crane NXT Company Profile

(Get Free Report)

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.

See Also