Crane NXT, Co. (NYSE:CXT) Announces Quarterly Dividend of $0.17

Crane NXT, Co. (NYSE:CXT) declared a quarterly dividend on Wednesday, February 12th, RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.17 per share on Wednesday, March 12th. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16.

Crane NXT has decreased its dividend payment by an average of 28.1% per year over the last three years. Crane NXT has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Crane NXT to earn $4.57 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 14.9%.

Crane NXT Stock Up 0.4 %

Shares of NYSE CXT opened at $57.67 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The company has a 50-day moving average price of $60.87 and a 200-day moving average price of $58.65. The stock has a market capitalization of $3.30 billion, a P/E ratio of 18.08 and a beta of 1.36. Crane NXT has a 1 year low of $52.89 and a 1 year high of $67.00.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, equities research analysts forecast that Crane NXT will post 4.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Northland Securities downgraded shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Finally, Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.33.

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.