Crane NXT, Co. (CXT) To Go Ex-Dividend on February 28th

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 1.18%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Crane NXT’s previous quarterly dividend of $0.16.

Crane NXT has decreased its dividend payment by an average of 28.1% annually over the last three years. Crane NXT has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings. 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

NYSE:CXT opened at $57.67 on Wednesday. The stock’s 50-day moving average is $60.87 and its 200-day moving average is $58.65. The stock has a market cap of $3.30 billion, a P/E ratio of 18.08 and a beta of 1.36. Crane NXT has a 1-year low of $52.89 and a 1-year high of $67.00. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Equities research analysts anticipate that Crane NXT will post 4.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CXT shares. Robert W. Baird lifted their target price on Crane NXT from $77.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Northland Securities lowered Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective on the stock. in a research note on Tuesday, February 18th. Finally, Northland Capmk downgraded shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.33.

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.