Crane NXT, Co. (NYSE:CXT) Increases Dividend to $0.17 Per Share

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.17 per share on Wednesday, March 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Crane NXT’s previous quarterly dividend of $0.16.

Crane NXT has decreased its dividend by an average of 28.1% annually over the last three years. Crane NXT has a payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Crane NXT to earn $4.39 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 14.6%.

Crane NXT Stock Down 1.7 %

Shares of NYSE:CXT opened at $58.59 on Thursday. The company has a 50-day moving average price of $61.21 and a 200 day moving average price of $58.65. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60. Crane NXT has a 12 month low of $52.89 and a 12 month high of $67.00. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 19.21 and a beta of 1.36.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. As a group, equities research analysts predict that Crane NXT will post 4.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CXT has been the topic of several recent analyst reports. Robert W. Baird raised their price target on shares of Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Baird R W raised shares of Crane NXT to a “strong-buy” rating in a research 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.