Crane NXT (NYSE:CXT) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Crane NXT (NYSE:CXT) issued its quarterly earnings data on Wednesday. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02, FiscalAI reports. The firm had revenue of $476.90 million for the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%.

Crane NXT Trading Down 5.3%

Crane NXT stock traded down $2.91 during midday trading on Wednesday, hitting $51.66. 1,040,658 shares of the stock were exchanged, compared to its average volume of 568,175. The stock has a market capitalization of $2.97 billion, a PE ratio of 19.27 and a beta of 1.18. The company has a fifty day simple moving average of $51.06 and a two-hundred day simple moving average of $57.79. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. Crane NXT has a 52 week low of $41.54 and a 52 week high of $69.00.

Analysts Set New Price Targets

Several analysts have recently commented on CXT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. CJS Securities raised Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. Oppenheimer boosted their target price on Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Finally, Robert W. Baird decreased their price target on Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.80.

Hedge Funds Weigh In On Crane NXT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Crane NXT by 0.7% in the 4th quarter. JPMorgan Chase & Co. now owns 115,868 shares of the company’s stock valued at $5,454,000 after buying an additional 840 shares in the last quarter. State of Wyoming grew its stake in Crane NXT by 51.5% in the fourth quarter. State of Wyoming now owns 3,687 shares of the company’s stock valued at $174,000 after acquiring an additional 1,254 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Crane NXT by 22.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 65,146 shares of the company’s stock worth $3,066,000 after acquiring an additional 11,815 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Crane NXT by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 917,097 shares of the company’s stock worth $43,176,000 after purchasing an additional 13,218 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Crane NXT by 6.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company’s stock valued at $233,000 after purchasing an additional 206 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.