Crane NXT, Co. (NYSE:CXT) to Issue Quarterly Dividend of $0.16

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.16 per share on Wednesday, December 11th. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, November 29th.

Crane NXT has decreased its dividend by an average of 19.7% annually over the last three years. Crane NXT has a payout ratio of 14.5% meaning 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

Shares of CXT stock opened at $62.84 on Thursday. Crane NXT has a 1 year low of $50.31 and a 1 year high of $64.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 20.60 and a beta of 1.33. The stock’s 50-day moving average is $56.32 and its two-hundred day moving average is $58.34.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $392.44 million. During the same period last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts predict that Crane NXT will post 4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CXT shares. 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 Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities lowered their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, DA Davidson reissued a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th.

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.