Crane NXT, Co. (NYSE:CXT) to Issue Dividend Increase – $0.18 Per Share

Crane NXT, Co. (NYSE:CXT) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Saturday, February 28th will be given a dividend of 0.18 per share on Wednesday, March 11th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, February 27th. This is a 5.9% increase from Crane NXT’s previous quarterly dividend of $0.17.

Crane NXT has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 2 years. Crane NXT has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of Crane NXT stock opened at $51.66 on Thursday. The firm has a market capitalization of $2.97 billion, a PE ratio of 19.27 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. Crane NXT has a 12 month low of $41.54 and a 12 month high of $69.00. The business’s 50-day moving average price is $50.94 and its 200-day moving average price is $57.74.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $476.90 million during the quarter, compared to the consensus estimate of $450.53 million. Crane NXT had a return on equity of 20.24% and a net margin of 9.80%.Crane NXT’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Sell-side analysts forecast that Crane NXT will post 4.16 EPS for the current fiscal year.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.