Crane NXT, Co. (NYSE:CXT) Increases Dividend to $0.17 Per Share

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.17 per share on Wednesday, March 12th. This represents a $0.68 annualized dividend and a yield of 1.16%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16.

Crane NXT has decreased its dividend payment by an average of 28.1% annually over the last three years. Crane NXT has a payout ratio of 12.7% meaning 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 traded down $1.03 on Wednesday, reaching $58.59. The stock had a trading volume of 594,523 shares, compared to its average volume of 404,022. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01. The company has a market cap of $3.35 billion, a P/E ratio of 19.21 and a beta of 1.36. The firm has a fifty day moving average of $61.29 and a two-hundred day moving average of $58.65. Crane NXT has a 1-year low of $52.89 and a 1-year high of $67.00.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.18% and a return on equity of 23.46%. On average, equities research analysts anticipate that Crane NXT will post 4.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CXT. Robert W. Baird lifted their price target on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. 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.