Crane NXT (CXT) Soars 14.7%: Is Further Upside Left in the Stock?
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Crane NXT (CXT) shares soared 14.7% in the last trading session to close at $64.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9.6% loss over the past four weeks.The stock is benefiting from upbeat guidance in its U.S. Currency business, boosted by a sharp increase in demand for higher denomination banknotes and reinforced by positive analyst sentiment.This maker of engineered industrial products is expected to post quarterly earnings of $1.25 per share in its upcoming report, which represents a year-over-year change of +7.8%. Revenues are expected to be $428.9 million, up 6.3% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Crane NXT, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CXT going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Crane NXT belongs to the Zacks Technology Services industry. Another stock from the same industry, JBT Marel (JBTM), closed the last trading session 0.5% higher at $137.91. Over the past month, JBTM has returned -6.2%.JBT's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.47. Compared to the company's year-ago EPS, this represents a change of -2%. JBT currently boasts a Zacks Rank of #3 (Hold).Quantum Computing Stocks Set To SoarArtificial intelligence has already reshaped the investment landscape, and its convergence with quantum computing could lead to the most significant wealth-building opportunities of our time.Today, you have a chance to position your portfolio at the forefront of this technological revolution. In our urgent special report, Beyond AI: The Quantum Leap in Computing Power, you'll discover the little-known stocks we believe will win the quantum computing race and deliver massive gains to early investors.Access the Report Free Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Crane NXT, Co. (CXT): Free Stock Analysis Report JBT Marel Corporation (JBTM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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