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

Key Points

• Crane NXT, Co. has received a consensus rating of "Moderate Buy" from six brokerages, with an average 12-month target price of $73.75.
• Crane NXT reported earnings of $0.54 per share for the last quarter, exceeding analyst expectations, with a year-over-year revenue increase of 5.3%.
• The company announced a quarterly dividend of $0.17 per share, representing a 1.15% yield and a payout ratio of 23.37%.

Crane NXT, Co. (NYSE:CXT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $73.75.

CXT has been the subject of several research analyst reports. DA Davidson lowered their price objective on Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a report on Friday, May 9th. UBS Group lowered their target price on Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

Crane NXT Stock Down 0.7%

Shares of NYSE CXT traded down $0.45 during midday trading on Friday, reaching $60.11. 421,909 shares of the company's stock were exchanged, compared to its average volume of 274,375. Crane NXT has a 52-week low of $41.54 and a 52-week high of $67.00. The stock has a market capitalization of $3.45 billion, a PE ratio of 20.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 1.20. The business's fifty day moving average price is $55.82 and its two-hundred day moving average price is $54.82.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $330.30 million for the quarter, compared to analyst estimates of $318.46 million. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. Analysts forecast that Crane NXT will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Friday, May 30th were given a dividend of $0.17 per share. The ex-dividend date was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. Crane NXT's dividend payout ratio (DPR) is presently 23.37%.

Institutional Trading of Crane NXT

Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock worth $499,337,000 after purchasing an additional 336,765 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Crane NXT by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock worth $345,303,000 after purchasing an additional 66,800 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Crane NXT by 16.2% in the first quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock worth $188,584,000 after purchasing an additional 512,813 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Crane NXT by 13.4% in the first quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock worth $70,312,000 after purchasing an additional 161,417 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company's stock worth $78,658,000 after purchasing an additional 597,537 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

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.