Crane NXT, Co. (NYSE:CXT) to Issue Quarterly Dividend of $0.18

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Monday, November 30th will be given a dividend of $0.18 per share on Wednesday, December 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, November 30th.

Crane NXT has decreased its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 2 years. Crane NXT has a dividend payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Crane NXT to earn $4.67 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 15.4%.

Crane NXT Stock Up 2.8%

CXT stock opened at $61.72 on Thursday. The company’s 50-day moving average price is $51.66 and its 200 day moving average price is $48.06. The company has a market cap of $3.55 billion, a P/E ratio of 25.51 and a beta of 1.03. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. Crane NXT has a 52 week low of $35.71 and a 52 week high of $65.56.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. Crane NXT had a return on equity of 19.87% and a net margin of 7.78%. The firm had revenue of $497.10 million during the quarter, compared to the consensus estimate of $495.03 million. During the same period last year, the business posted $1.28 EPS. Crane NXT’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Crane NXT will post 4.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CXT shares. Wall Street Zen cut shares of Crane NXT from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Robert W. Baird set a $68.00 price target 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. Jefferies Financial Group initiated coverage on Crane NXT in a research report on Tuesday, September 22nd. They set a “buy” rating and a $60.00 price objective for the company. Finally, DA Davidson reaffirmed a “buy” rating and issued a $85.00 target price on shares of Crane NXT in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.83.

About Crane NXT

Crane NXT, Co is a technology company that develops solutions for payment acceptance, cash management, currency security and brand protection. The company serves businesses and government organizations that require secure, reliable methods for processing transactions, managing cash and authenticating products and documents.

Its Payment & Merchandising Technologies segment provides payment and cash-handling equipment and software for applications including retail, vending, gaming, transportation and other automated or self-service environments.