Crane NXT, Co. (NYSE:CXT) to Issue Quarterly Dividend of $0.16

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, November 6th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.16 per share on Wednesday, December 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, November 29th.

Crane NXT has decreased its dividend payment by an average of 19.7% per year over the last three years. Crane NXT has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Crane NXT to earn $4.52 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 14.2%.

Crane NXT Price Performance

Shares of CXT traded down $0.10 during mid-day trading on Thursday, reaching $56.92. The company had a trading volume of 742,648 shares, compared to its average volume of 349,087. The company’s 50 day simple moving average is $56.20 and its 200 day simple moving average is $58.77. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 17.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. Crane NXT has a 1-year low of $49.40 and a 1-year high of $64.80.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.03. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. Crane NXT’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Analysts expect that Crane NXT will post 4.27 EPS for the current year.

Wall Street Analysts Forecast Growth

CXT has been the topic of several recent research reports. Robert W. Baird began coverage on shares of Crane NXT in a research report on Thursday, October 17th. They set an “outperform” rating and a $77.00 target price on the stock. DA Davidson reissued a “buy” rating and issued a $100.00 price objective on shares of Crane NXT in a research note on Monday, September 30th. Northland Securities decreased their price objective on Crane NXT from $96.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Baird R W raised Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

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.