Crane NXT (NYSE:CXT) Announces Earnings Results

Crane NXT (NYSE:CXT) released its quarterly earnings results on Wednesday. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.02, FiscalAI reports. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The company had revenue of $476.90 million during the quarter, compared to analysts’ expectations of $450.53 million.

Crane NXT Stock Down 5.3%

CXT traded down $2.91 during trading on Wednesday, reaching $51.66. 1,040,658 shares of the stock were exchanged, compared to its average volume of 568,175. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 1.26. The stock’s 50 day moving average price is $51.06 and its two-hundred day moving average price is $57.79. Crane NXT has a twelve month low of $41.54 and a twelve month high of $69.00. The stock has a market cap of $2.97 billion, a P/E ratio of 19.27 and a beta of 1.18.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CXT. Measured Wealth Private Client Group LLC acquired a new stake in Crane NXT in the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its position in Crane NXT by 4,080.0% during the second quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock worth $34,000 after purchasing an additional 612 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Crane NXT by 120.3% in the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $37,000 after purchasing an additional 391 shares during the last quarter. State of Wyoming raised its position in shares of 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 purchasing an additional 1,254 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Crane NXT during the 2nd quarter worth about $208,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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