DA Davidson Estimates Crane NXT’s FY2024 Earnings (NYSE:CXT)

Crane NXT, Co. (NYSE:CXT) – Equities research analysts at DA Davidson cut their FY2024 EPS estimates for shares of Crane NXT in a note issued to investors on Friday, November 8th. DA Davidson analyst M. Summerville now forecasts that the company will earn $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 objective 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.

Several other equities research analysts have also commented on CXT. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Robert W. Baird raised their price target on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Northland Securities dropped their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th.

Crane NXT Trading Up 0.3 %

CXT opened at $56.53 on Monday. Crane NXT has a 52 week low of $50.31 and a 52 week high of $64.80. The stock has a market cap of $3.23 billion, a PE ratio of 18.48 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $56.08 and a 200-day moving average of $58.61.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norden Group LLC bought a new stake in Crane NXT in the 1st quarter worth about $263,000. Janney Montgomery Scott LLC purchased a new position in shares of Crane NXT during the first quarter valued at approximately $343,000. Texas Permanent School Fund Corp lifted its position in Crane NXT by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 42,252 shares of the company’s stock valued at $2,615,000 after purchasing an additional 548 shares during the period. Sei Investments Co. lifted its position in Crane NXT by 17.9% during the first quarter. Sei Investments Co. now owns 140,668 shares of the company’s stock valued at $8,708,000 after purchasing an additional 21,360 shares during the period. Finally, Inspire Advisors LLC purchased a new stake in Crane NXT in the first quarter worth approximately $210,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 dividend payout ratio is 20.98%.

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.