Crane NXT, Co. (CXT) to Issue Quarterly Dividend of $0.16 on December 11th

Crane NXT, Co. (NYSE:CXT) declared a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Stockholders 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 payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Research 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 market cap of $3.62 billion, a PE ratio of 20.73 and a beta of 1.33. The stock’s 50 day simple moving average is $56.22 and its 200-day simple moving average is $58.32. 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 current ratio of 1.38 and a quick ratio of 1.01.

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

Analysts Set New Price Targets

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

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.