Crane NXT (NYSE:CXT) Shares Gap Down – Here’s Why

Shares of Crane NXT, Co. (NYSE:CXT) gapped down before the market opened on Wednesday . The stock had previously closed at $50.33, but opened at $48.06. Crane NXT shares last traded at $48.0550, with a volume of 17,659 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Robert W. Baird set a $68.00 target price on Crane NXT in a research note on Friday, August 7th. Zacks Research raised shares of Crane NXT from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Crane NXT from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Northland Securities set a $65.00 target price on shares of Crane NXT in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.20.

Crane NXT Trading Up 1.3%

The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 1.00. The company has a market cap of $2.79 billion, a P/E ratio of 20.02 and a beta of 1.09. The business has a 50-day moving average price of $49.86 and a two-hundred day moving average price of $46.51.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.06. The business had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $475.62 million. Crane NXT had a return on equity of 19.87% and a net margin of 7.78%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. Crane NXT has set its FY 2026 guidance at 4.220-4.420 EPS. On average, analysts predict that Crane NXT, Co. will post 4.27 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 31st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.5%. Crane NXT’s payout ratio is currently 29.75%.

Hedge Funds Weigh In On Crane NXT

Large investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC bought a new stake in shares of Crane NXT during the 3rd quarter valued at $31,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Crane NXT during the second quarter worth $26,000. Camelot Portfolios LLC bought a new stake in Crane NXT in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its holdings in Crane NXT by 4,458.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 547 shares of the company’s stock valued at $26,000 after purchasing an additional 535 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Crane NXT by 4,080.0% in the second quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $34,000 after buying an additional 612 shares during the period. 77.49% of the stock is currently 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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.