Crane NXT, Co. (NYSE:CXT) Announces $0.16 Quarterly Dividend

Crane NXT, Co. (NYSE:CXT) declared a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.16 per share on Wednesday, December 11th. This represents a $0.64 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, November 29th.

Crane NXT has decreased its dividend payment by an average of 19.7% annually over the last three years. Crane NXT has a dividend payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crane NXT to earn $4.39 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 14.6%.

Crane NXT Stock Performance

NYSE:CXT opened at $63.24 on Wednesday. The company has a fifty day simple moving average of $56.22 and a two-hundred day simple moving average of $58.32. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 20.73 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. Crane NXT has a 52 week low of $50.31 and a 52 week high of $64.80.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. The business had revenue of $403.50 million during the quarter, compared to analysts’ expectations of $392.44 million. During the same period in the previous year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Crane NXT will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CXT shares. DA Davidson reaffirmed a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th. Robert W. Baird upped their target price on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Northland Securities reduced their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th.

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.