Crane NXT (NYSE:CXT) Releases Earnings Results, Beats Expectations By $0.07 EPS

Crane NXT (NYSE:CXT) announced its quarterly earnings data on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07, FiscalAI reports. The firm had revenue of $497.10 million during the quarter, compared to analyst estimates of $495.03 million. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. Crane NXT’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share.

Crane NXT Price Performance

Shares of CXT traded up $1.68 during midday trading on Wednesday, hitting $61.72. The company’s stock had a trading volume of 1,451,359 shares, compared to its average volume of 655,164. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.03. Crane NXT has a one year low of $35.71 and a one year high of $65.56. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $51.66 and its two-hundred day simple moving average is $48.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Crane NXT from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised shares of Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. DA Davidson reiterated a “buy” rating and set a $85.00 price objective on shares of Crane NXT in a research note on Friday, September 18th. Northland Securities set a $65.00 target price on shares of Crane NXT in a report on Monday, August 10th. Finally, Jefferies Financial Group initiated coverage on Crane NXT in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.83.

Crane NXT Company Profile

Crane NXT, Co is a technology company that develops solutions for payment acceptance, cash management, currency security and brand protection. The company serves businesses and government organizations that require secure, reliable methods for processing transactions, managing cash and authenticating products and documents.

Its Payment & Merchandising Technologies segment provides payment and cash-handling equipment and software for applications including retail, vending, gaming, transportation and other automated or self-service environments.