Crane NXT, Co. (NYSE:CXT) Shares Will Pay Quarterly Dividend of $0.18

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Monday, November 30th will be paid a dividend of $0.18 per share on Wednesday, December 9th. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 30th.

Crane NXT has decreased its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Crane NXT has a payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Crane NXT to earn $4.67 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 15.4%.

Crane NXT Price Performance

Shares of CXT stock opened at $61.72 on Thursday. The business’s fifty day moving average is $51.66 and its 200 day moving average is $48.06. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 1.00. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.03. Crane NXT has a twelve month low of $35.71 and a twelve month high of $65.56.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $497.10 million during the quarter, compared to analyst estimates of $495.03 million. Crane NXT had a return on equity of 19.87% and a net margin of 7.78%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. Research analysts expect that Crane NXT will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Crane NXT in a research note on Tuesday, September 22nd. They set a “buy” rating and a $60.00 price objective on the stock. Northland Securities set a $65.00 target price on shares of Crane NXT in a research note on Monday, August 10th. DA Davidson reaffirmed a “buy” rating and set a $85.00 target price on shares of Crane NXT in a research note on Friday, September 18th. Weiss Ratings upgraded Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Finally, Robert W. Baird set a $68.00 price target on Crane NXT in a report on Friday, August 7th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.