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

Crane NXT, Co. (NYSE:CXT) – Stock analysts at DA Davidson reduced their FY2024 earnings estimates for Crane NXT in a research report issued on Friday, November 8th. DA Davidson analyst M. Summerville now forecasts that the company will post earnings per share of $4.25 for the year, down from their previous forecast 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 $4.27 per share. DA Davidson also issued estimates for Crane NXT’s Q4 2024 earnings at $1.18 EPS.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. The company had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. Crane NXT had a return on equity of 24.05% and a net margin of 12.18%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share.

Several other equities research analysts have also commented on the stock. Northland Securities dropped their price objective 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. Robert W. Baird boosted their price target on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Baird R W upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

Crane NXT Stock Performance

Shares of CXT stock opened at $56.68 on Monday. 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 company’s fifty day moving average price is $56.13 and its 200-day moving average price is $58.66. The stock has a market cap of $3.24 billion, a PE ratio of 18.58 and a beta of 1.33. Crane NXT has a 12 month low of $49.66 and a 12 month high of $64.80.

Hedge Funds Weigh In On Crane NXT

A number of hedge funds have recently added to or reduced their stakes in CXT. LRI Investments LLC purchased a new position in Crane NXT in the 1st quarter worth about $38,000. nVerses Capital LLC purchased a new position in shares of Crane NXT during the third quarter valued at approximately $45,000. Hobbs Group Advisors LLC purchased a new position in shares of Crane NXT during the second quarter valued at approximately $52,000. Blue Trust Inc. lifted its position in Crane NXT by 27.8% during the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after purchasing an additional 205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock worth $116,000 after purchasing an additional 265 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 1.13%. Crane NXT’s dividend payout ratio (DPR) is presently 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.