Crane NXT, Co. (NYSE:CXT) Receives $73.75 Consensus Target Price from Analysts

Crane NXT, Co. (NYSE:CXT) has received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on 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.

Several research analysts have weighed in on CXT shares. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a report on Tuesday, February 18th. DA Davidson cut their price target on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a report on Friday, May 9th. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, UBS Group dropped their price objective 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 Trading Down 0.9%

Shares of CXT opened at $55.72 on Friday. The stock has a fifty day moving average of $49.83 and a two-hundred day moving average of $55.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The company has a market capitalization of $3.20 billion, a PE ratio of 17.47 and a beta of 1.30. Crane NXT has a fifty-two week low of $41.54 and a fifty-two week high of $67.01.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The company had revenue of $330.30 million during the quarter, compared to the consensus estimate of $318.46 million. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Crane NXT’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. As a group, analysts forecast that Crane NXT will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors 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 yield of 1.22%. Crane NXT’s dividend payout ratio (DPR) is 23.37%.

Institutional Trading of Crane NXT

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Crane NXT by 4.1% during the 4th 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 during the period. Vanguard Group Inc. boosted its position in Crane NXT by 1.1% during the 4th 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 during the period. Wellington Management Group LLP boosted its position in 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 purchasing an additional 512,813 shares during the period. Victory Capital Management Inc. boosted its position in Crane NXT by 13.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company’s stock valued at $70,312,000 after buying an additional 161,417 shares during the last quarter. Finally, Capital International Investors boosted its position in Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after buying an additional 597,537 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

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.