Crane NXT (NYSE:CXT) Shares Gap Down – Here’s What Happened

Crane NXT, Co. (NYSE:CXT)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $50.33, but opened at $48.06. Crane NXT shares last traded at $48.0550, with a volume of 17,659 shares.

Analysts Set New Price Targets

CXT has been the topic of several research analyst reports. Robert W. Baird set a $68.00 target price on shares of Crane NXT in a research report on Friday, August 7th. Weiss Ratings raised shares of Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Northland Securities set a $65.00 target price on Crane NXT in a report on Monday, August 10th. Finally, Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.20.

Crane NXT Stock Performance

The firm’s 50-day moving average price is $50.25 and its two-hundred day moving average price is $46.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.07 and a current ratio of 1.42. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 20.38 and a beta of 1.09.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.06. Crane NXT had a net margin of 7.78% and a return on equity of 19.87%. The firm had revenue of $493.20 million during the quarter, compared to analysts’ expectations of $475.62 million. During the same period last year, the business earned $0.97 earnings per share. Crane NXT’s revenue was up 22.1% compared to the same quarter last year. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, analysts expect that Crane NXT, Co. will post 4.27 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.5%. Crane NXT’s dividend payout ratio (DPR) is currently 29.75%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Crane NXT during the second quarter worth $329,797,000. Alliancebernstein L.P. raised its position in Crane NXT by 2,449.9% in the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company’s stock valued at $95,446,000 after purchasing an additional 1,701,361 shares during the period. Channing Capital Management LLC lifted its stake in shares of Crane NXT by 632.9% in the 4th quarter. Channing Capital Management LLC now owns 1,571,769 shares of the company’s stock valued at $73,983,000 after purchasing an additional 1,357,312 shares during the last quarter. Norges Bank acquired a new position in shares of Crane NXT in the 4th quarter valued at $30,057,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Crane NXT during the 2nd quarter worth $23,160,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.