Crane NXT (NYSE:CXT) Releases Earnings Results, Beats Expectations By $0.03 EPS

Posted by Hanz Christensen on Nov 7th, 2024

Crane NXT (NYSE:CXT – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.03, Briefing.com reports. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the prior year, the firm earned $1.09 earnings per share. Crane NXT’s revenue for the quarter was up 14.3% compared to the same quarter last year. Crane NXT updated its FY24 guidance to $4.22-4.30 EPS and its FY 2024 guidance to 4.220-4.300 EPS.

Crane NXT Stock Up 0.2 %

CXT stock traded up $0.10 during mid-day trading on Thursday, reaching $57.12. The company had a trading volume of 479,452 shares, compared to its average volume of 347,869. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $56.20 and a two-hundred day simple moving average of $58.77. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 17.76 and a beta of 1.33. Crane NXT has a 52 week low of $49.40 and a 52 week high of $64.80.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CXT. DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday, September 30th. Northland Securities decreased their price objective on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird started coverage on Crane NXT in a research report on Thursday, October 17th. They issued an “outperform” rating and a $77.00 target price on the stock. Finally, Baird R W raised Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th.

Get Our Latest Stock Analysis on Crane NXT

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.