Payment technology company Crane NXT (NYSE: CXT) will be reporting results tomorrow after the bell. Here’s what to expect.
Crane NXT missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $399.1 million, up 11.8% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue estimates and EPS in line with analysts’ estimates.
Is Crane NXT a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Crane NXT’s revenue to grow 1.4% year on year to $317.9 million, a reversal from the 4.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Crane NXT has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Crane NXT’s peers in the specialized technology segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Mirion delivered year-on-year revenue growth of 4.9%, beating analysts’ expectations by 0.6%, and Cognex reported revenues up 2.5%, topping estimates by 1.9%. Mirion traded up 1.3% following the results while Cognex was also up 2.1%.
Read our full analysis of Mirion’s results here and Cognex’s results here.
There has been positive sentiment among investors in the specialized technology segment, with share prices up 10.3% on average over the last month. Crane NXT is up 8.9% during the same time and is heading into earnings with an average analyst price target of $74.33 (compared to the current share price of $48.05).
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