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

Crane NXT (NYSE:CXT) announced its quarterly earnings data on Wednesday. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07, FiscalAI reports. Crane NXT had a return on equity of 19.72% and a net margin of 6.91%. The company had revenue of $497.10 million for the quarter, compared to analyst estimates of $495.00 million. During the same quarter in the previous year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year.

Crane NXT Price Performance

Shares of NYSE:CXT traded down $0.39 during midday trading on Friday, hitting $58.90. 480,043 shares of the stock were exchanged, compared to its average volume of 748,145. The stock has a market cap of $3.39 billion, a P/E ratio of 26.63 and a beta of 1.03. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. Crane NXT has a twelve month low of $35.71 and a twelve month high of $63.57. The company has a 50 day moving average price of $51.84 and a 200-day moving average price of $48.10.

Crane NXT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Monday, November 30th will be given a $0.18 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Crane NXT’s dividend payout ratio (DPR) is currently 32.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CXT. Robert W. Baird set a $68.00 target price on Crane NXT in a research note on Friday, August 7th. Weiss Ratings upgraded Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Northland Securities set a $65.00 price target on shares of Crane NXT in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Crane NXT from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Jefferies Financial Group initiated coverage on shares of Crane NXT in a report on Tuesday, September 22nd. They issued a “buy” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.83.

Crane NXT Company Profile

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.