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

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

Crane NXT Stock Performance

Shares of CXT stock traded up $1.68 during midday trading on Wednesday, hitting $61.72. The company had a trading volume of 1,451,359 shares, compared to its average volume of 655,164. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.07. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.03. The company’s 50 day simple moving average is $51.66 and its 200 day simple moving average is $48.06. Crane NXT has a 52-week low of $35.71 and a 52-week high of $65.56.

Analyst Ratings Changes

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

About Crane NXT

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.