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

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

Crane NXT has decreased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Crane NXT has a payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities 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%

Shares of NYSE CXT opened at $61.72 on Thursday. The stock has a market capitalization of $3.55 billion, a PE ratio of 25.51 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average of $51.66 and a 200-day moving average of $48.06. Crane NXT has a 52-week low of $35.71 and a 52-week high of $65.56.

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

Analyst Upgrades and Downgrades

CXT has been the subject of a number of research reports. Wall Street Zen downgraded Crane NXT from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings upgraded Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Northland Securities set a $65.00 price objective on Crane NXT in a research note on Monday, August 10th. Jefferies Financial Group assumed coverage on Crane NXT in a report on Tuesday, September 22nd. They set a “buy” rating and a $60.00 target price for the company. Finally, DA Davidson reissued a “buy” rating and set a $85.00 target price on shares of Crane NXT in a research report 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.