Crane NXT, Co. (NYSE:CXT) Declares Quarterly Dividend of $0.18

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Saturday, February 28th will be paid a dividend of 0.18 per share on Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 27th. This is a 5.9% increase from Crane NXT’s previous quarterly dividend of $0.17.

Crane NXT has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 2 years. Crane NXT has a dividend payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Crane NXT to earn $4.57 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 14.9%.

Crane NXT Stock Down 5.3%

NYSE:CXT opened at $51.66 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.26 and a quick ratio of 0.94. The firm’s 50-day moving average price is $50.94 and its 200-day moving average price is $57.74. The company has a market capitalization of $2.97 billion, a PE ratio of 19.27 and a beta of 1.18. Crane NXT has a 1-year low of $41.54 and a 1-year high of $69.00.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The business had revenue of $476.90 million for the quarter, compared to analysts’ expectations of $450.53 million. During the same quarter in the prior year, the company earned $1.20 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, equities analysts predict that Crane NXT will post 4.16 EPS for the current fiscal year.

Analysts Set New Price Targets

CXT has been the topic of several analyst reports. Oppenheimer boosted their target price on Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Robert W. Baird decreased their target price on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a report on Wednesday, January 21st. Finally, CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Crane NXT Company Profile

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.