Crane NXT, Co. (NYSE:CXT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Crane NXT, Co. (NYSE:CXT) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $71.60.

A number of equities research analysts have commented on the company. DA Davidson restated a “buy” rating and set a $85.00 price objective on shares of Crane NXT in a research report on Tuesday, February 17th. CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $73.00 price objective on shares of Crane NXT in a research report on Friday, February 13th. UBS Group set a $58.00 price objective on shares of Crane NXT in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st.

Crane NXT Price Performance

Shares of NYSE:CXT opened at $40.15 on Friday. The company’s fifty day moving average is $47.78 and its two-hundred day moving average is $54.26. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 0.80. Crane NXT has a 12-month low of $39.23 and a 12-month high of $69.00. The company has a market cap of $2.31 billion, a P/E ratio of 15.99 and a beta of 1.21.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, February 11th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. The business had revenue of $476.90 million during the quarter, compared to analysts’ expectations of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.Crane NXT’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. Equities analysts expect that Crane NXT will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Saturday, February 28th were issued a dividend of $0.18 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, February 27th. Crane NXT’s dividend payout ratio is 28.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Crane NXT by 141.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Crane NXT in the 3rd quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Crane NXT in the third quarter worth approximately $31,000. Aster Capital Management DIFC Ltd acquired a new position in Crane NXT in the third quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC bought a new position in Crane NXT during the third quarter valued at approximately $34,000. Hedge funds and other 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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.