FY2024 Earnings Estimate for Crane NXT Issued By DA Davidson

Crane NXT, Co. (NYSE:CXT) – Equities researchers at DA Davidson reduced their FY2024 earnings per share (EPS) estimates for Crane NXT in a note issued to investors on Friday, November 8th. DA Davidson analyst M. Summerville now forecasts that the company will post earnings of $4.25 per share for the year, down from their previous estimate of $4.28. DA Davidson has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for Crane NXT’s current full-year earnings is $4.26 per share. DA Davidson also issued estimates for Crane NXT’s Q4 2024 earnings at $1.18 EPS.

Other research analysts have also recently issued research reports about the stock. Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities lowered their price objective on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Robert W. Baird upped their price objective on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $56.53 on Monday. The firm’s 50 day simple moving average is $56.08 and its two-hundred day simple moving average is $58.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 0.87. The company has a market capitalization of $3.23 billion, a P/E ratio of 18.48 and a beta of 1.33. Crane NXT has a 1-year low of $50.31 and a 1-year high of $64.80.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS.

Institutional Trading of Crane NXT

Institutional investors and hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in shares of Crane NXT during the first quarter valued at about $38,000. nVerses Capital LLC purchased a new position in Crane NXT during the 3rd quarter valued at approximately $45,000. Hobbs Group Advisors LLC bought a new stake in Crane NXT in the 2nd quarter worth approximately $52,000. Blue Trust Inc. raised its holdings in shares of Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after acquiring an additional 205 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.13%. Crane NXT’s payout ratio is 20.98%.

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.