Crane NXT, Co. (NYSE:CXT) Announces Quarterly Dividend of $0.17

Crane NXT, Co. (NYSE:CXT) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors 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 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 by an average of 28.1% per year over the last three years. Crane NXT has a payout ratio of 12.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

NYSE:CXT opened at $57.85 on Friday. The business has a 50 day moving average of $61.15 and a 200 day moving average of $58.65. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 18.97 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 debt-to-equity ratio of 0.60, a current ratio of 1.38 and a quick ratio of 1.01.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 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%. On average, sell-side analysts predict that Crane NXT will post 4.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CXT has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on 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 Crane NXT to a “strong-buy” rating in a research note 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.