Crane NXT (NYSE:CXT) Announces Quarterly Earnings Results

Crane NXT (NYSE:CXT) announced its quarterly earnings results on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07, FiscalAI reports. The company 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%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 EPS.

Crane NXT Trading Up 2.8%

CXT stock traded up $1.68 on Wednesday, reaching $61.72. The company’s stock 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 quick ratio of 1.07 and a current ratio of 1.42. Crane NXT has a 12-month low of $35.71 and a 12-month high of $65.56. The firm has a market cap of $3.55 billion, a PE ratio of 25.51 and a beta of 1.03. The business has a fifty day simple moving average of $51.66 and a two-hundred day simple moving average of $48.06.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CXT shares. DA Davidson reissued a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Friday, September 18th. Northland Securities set a $65.00 target price on Crane NXT in a report on Monday, August 10th. Weiss Ratings raised Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Robert W. Baird set a $68.00 price target on shares of Crane NXT in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Crane NXT from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Crane NXT currently has an average rating of “Moderate Buy” and a consensus target price 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.