Crane NXT, Co. (NYSE:CXT) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Crane NXT has an average rating of "Moderate Buy" from six brokerages, with a consensus twelve-month target price of $73.75.
• Crane NXT recently reported quarterly earnings of $0.97 per share, exceeding analyst estimates and achieving revenue of $404.40 million.
• The company announced a quarterly dividend of $0.17 per share, representing a 1.1% dividend yield with a payout ratio of 25.95%.

Crane NXT, Co. (NYSE:CXT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $73.75.

A number of brokerages have recently issued reports on CXT. DA Davidson restated a "buy" rating and issued a $85.00 target price on shares of Crane NXT in a research note on Monday, August 18th. UBS Group decreased their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th.

Crane NXT Stock Down 0.1%

CXT stock traded down $0.06 during trading on Thursday, reaching $62.45. The stock had a trading volume of 585,625 shares, compared to its average volume of 415,531. Crane NXT has a 1-year low of $41.54 and a 1-year high of $67.00. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.59 billion, a P/E ratio of 23.83 and a beta of 1.33. The firm has a fifty day moving average price of $57.92 and a 200 day moving average price of $54.21.

Crane NXT (NYSE:CXT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.05. The business had revenue of $404.40 million for the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. On average, equities analysts anticipate that Crane NXT will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be given a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.1%. Crane NXT's dividend payout ratio is 25.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CXT. Alliancebernstein L.P. grew its position in Crane NXT by 2,449.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company's stock worth $95,446,000 after purchasing an additional 1,701,361 shares during the last quarter. Ameriprise Financial Inc. grew its position in Crane NXT by 173.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company's stock worth $55,750,000 after purchasing an additional 687,738 shares during the last quarter. Norges Bank bought a new position in Crane NXT in the 2nd quarter worth about $32,163,000. Wellington Management Group LLP lifted its stake in shares of Crane NXT by 16.2% in the 1st quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock worth $188,584,000 after acquiring an additional 512,813 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of Crane NXT by 95.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock worth $59,470,000 after acquiring an additional 499,290 shares during the period. Institutional investors own 77.49% of the company's stock.

Crane NXT Company Profile

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.