Crane NXT (NYSE:CXT) Shares Down 5.6% – What’s Next?

Crane NXT, Co. (NYSE:CXT)’s stock price traded down 5.6% during mid-day trading on Thursday . The company traded as low as $39.50 and last traded at $39.4790. 488,994 shares traded hands during trading, a decline of 32% from the average session volume of 719,762 shares. The stock had previously closed at $41.83.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CXT shares. CJS Securities upgraded Crane NXT to a “strong-buy” rating in a research note on Thursday, December 11th. UBS Group set a $58.00 price target on Crane NXT in a research report on Friday, February 13th. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. DA Davidson restated a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, February 17th. Finally, Robert W. Baird set a $73.00 price objective on shares of Crane NXT in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.60.

Crane NXT Stock Down 5.8%

The company has a 50 day moving average of $48.01 and a 200-day moving average of $54.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20. The company has a market cap of $2.26 billion, a P/E ratio of 15.70 and a beta of 1.18.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $476.90 million for the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, equities analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Saturday, February 28th were given a dividend of $0.18 per share. The ex-dividend date was Friday, February 27th. This is a boost from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.8%. Crane NXT’s dividend payout ratio (DPR) is presently 28.69%.

Hedge Funds Weigh In On Crane NXT

A number of institutional investors have recently made changes to their positions in CXT. Jones Financial Companies Lllp grew its position in Crane NXT by 120.3% in the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock worth $37,000 after acquiring an additional 391 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crane NXT by 23.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 177,810 shares of the company’s stock worth $9,139,000 after purchasing an additional 33,336 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Crane NXT by 89.0% in the 1st quarter. Jane Street Group LLC now owns 52,113 shares of the company’s stock worth $2,679,000 after purchasing an additional 24,540 shares in the last quarter. Creative Planning boosted its holdings in shares of Crane NXT by 19.7% in the 2nd quarter. Creative Planning now owns 13,088 shares of the company’s stock worth $705,000 after purchasing an additional 2,154 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Crane NXT by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 81,365 shares of the company’s stock valued at $4,386,000 after purchasing an additional 3,262 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

About Crane NXT

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.