Crane NXT, Co. (NYSE:CXT) Given Consensus Rating of "Moderate Buy" by Analysts

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%.

Shares of Crane NXT, Co. (NYSE:CXT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $73.75.

A number of analysts have recently weighed in on the stock. DA Davidson reiterated a "buy" rating and issued a $85.00 price objective on shares of Crane NXT in a research note on Monday, August 18th. UBS Group reduced their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th.

Institutional Investors Weigh In On Crane NXT

A number of institutional investors have recently bought and sold shares of CXT. Wellington Management Group LLP raised its position in shares of Crane NXT by 16.2% during the 1st quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock worth $188,584,000 after buying an additional 512,813 shares in the last quarter. Alliancebernstein L.P. grew its position in Crane NXT by 2,449.9% in the second quarter. Alliancebernstein L.P. now owns 1,770,807 shares of the company's stock worth $95,446,000 after acquiring an additional 1,701,361 shares in the last quarter. State Street Corp boosted its holdings in shares of Crane NXT by 0.7% during the 2nd quarter. State Street Corp now owns 1,533,762 shares of the company's stock worth $82,670,000 after buying an additional 9,959 shares during the period. Victory Capital Management Inc. lifted its position in Crane NXT by 13.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock worth $70,312,000 after acquiring an additional 161,417 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Crane NXT by 16.5% in the 2nd quarter. Invesco Ltd. now owns 1,240,520 shares of the company's stock valued at $66,864,000 after purchasing an additional 175,771 shares during the period. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Crane NXT Price Performance

Shares of CXT traded down $0.74 during trading hours on Thursday, reaching $62.59. 99,548 shares of the stock traded hands, compared to its average volume of 422,286. 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 cap of $3.59 billion, a P/E ratio of 23.89 and a beta of 1.33. The company's 50-day moving average price is $57.69 and its two-hundred day moving average price is $54.15. Crane NXT has a 52-week low of $41.54 and a 52-week high of $67.00.

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

Crane NXT Dividend Announcement

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

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.