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

Crane NXT (NYSE:CXT) issued its quarterly earnings data on Wednesday. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07, FiscalAI reports. The business had revenue of $497.10 million for 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 period last year, the business earned $1.28 EPS.

Crane NXT Trading Down 4.4%

Crane NXT stock traded down $2.69 during trading hours on Thursday, reaching $58.94. The stock had a trading volume of 640,920 shares, compared to its average volume of 747,157. The stock has a market cap of $3.39 billion, a PE ratio of 24.24 and a beta of 1.03. Crane NXT has a 52 week low of $35.71 and a 52 week high of $65.56. 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 company has a fifty day simple moving average of $51.66 and a 200-day simple moving average of $48.06.

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Monday, November 30th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.72 annualized dividend and a yield of 1.2%. Crane NXT’s dividend payout ratio is presently 29.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CXT. Jefferies Financial Group started coverage on Crane NXT in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $60.00 target price on the stock. Weiss Ratings upgraded 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 target on Crane NXT in a report on Monday, August 10th. Robert W. Baird set a $68.00 price objective on 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 note on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Crane NXT currently has an average 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.