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

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders 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 of this dividend is Friday, November 29th.

Crane NXT has decreased its dividend by an average of 19.7% per year over the last three years. Crane NXT has a 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 Trading Down 0.6 %

Shares of NYSE CXT opened at $62.84 on Thursday. The stock has a fifty day simple moving average of $56.32 and a 200-day simple moving average of $58.34. Crane NXT has a twelve month low of $50.31 and a twelve month high of $64.80. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.59 billion, a PE ratio of 20.60 and a beta of 1.33.

Crane NXT (NYSE:CXT) last issued its quarterly 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 company had revenue of $403.50 million for the quarter, compared to analyst estimates of $392.44 million. During the same period in the prior year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts forecast that Crane NXT will post 4.26 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on CXT. DA Davidson reiterated a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th. Baird R W raised Crane NXT to a “strong-buy” rating in a research report on Thursday, October 17th. Robert W. Baird raised 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. Finally, Northland Securities lowered their price target 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.