Crane NXT (NYSE:CXT) Reaches New 12-Month Low – Here’s What Happened

Crane NXT, Co. (NYSE:CXT)’s stock price hit a new 52-week low on Monday . The stock traded as low as $39.65 and last traded at $39.7020, with a volume of 225477 shares. The stock had previously closed at $41.15.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CXT shares. UBS Group set a $58.00 target price on shares of Crane NXT in a research report on Friday, February 13th. CJS Securities upgraded shares of Crane NXT to a “strong-buy” rating in a research note 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. Zacks Research upgraded Crane NXT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Northland Securities set a $62.00 target price on Crane NXT in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Crane NXT currently has an average rating of “Moderate Buy” and an average price target of $71.60.

Crane NXT Trading Down 3.7%

The stock has a 50 day moving average of $48.69 and a 200-day moving average of $54.75. The company has a market capitalization of $2.28 billion, a P/E ratio of 15.78 and a beta of 1.18. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, February 11th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $476.90 million for the quarter, compared to analysts’ expectations of $450.53 million. Crane NXT had a net margin of 8.76% and a return on equity of 19.84%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, research analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Increases Dividend

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

Institutional Investors Weigh In On Crane NXT

A number of institutional investors have recently bought and sold shares of CXT. US Bancorp DE lifted its position in shares of Crane NXT by 2.0% in the third quarter. US Bancorp DE now owns 8,445 shares of the company’s stock valued at $566,000 after acquiring an additional 169 shares in the last quarter. Whittier Trust Co. raised its stake in Crane NXT by 8.5% during the 3rd quarter. Whittier Trust Co. now owns 2,170 shares of the company’s stock valued at $144,000 after purchasing an additional 170 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Crane NXT by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 50,304 shares of the company’s stock worth $2,711,000 after purchasing an additional 190 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Crane NXT by 6.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company’s stock worth $233,000 after purchasing an additional 206 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Crane NXT by 141.6% in 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 during the period. 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.