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

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, February 11th. Shareholders of record on Saturday, February 28th will be paid a dividend of 0.18 per share on Wednesday, March 11th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, February 27th. This is a 5.9% increase from Crane NXT’s previous quarterly dividend of $0.17.

Crane NXT has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 2 years. Crane NXT has a payout ratio of 14.1% 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 Performance

Shares of CXT opened at $51.66 on Thursday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 19.27 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $50.94 and its two-hundred day moving average is $57.74. Crane NXT has a 52-week low of $41.54 and a 52-week high of $69.00.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. The business had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Analysts forecast that Crane NXT will post 4.16 EPS for the current fiscal year.

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.