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

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 changing hands.

Analysts Set New Price Targets

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

Crane NXT Price Performance

The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 20.02 and a beta of 1.09. The company has a 50 day simple moving average of $49.86 and a 200-day simple moving average of $46.51. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00.

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

Crane NXT Announces Dividend

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

Institutional Investors Weigh In On Crane NXT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Equitable Holdings Inc. acquired a new position in shares of Crane NXT during the 2nd quarter worth about $341,000. Public Employees Retirement System of Ohio acquired a new position in Crane NXT during the second quarter worth $37,000. Capstone Investment Advisors LLC acquired a new position in Crane NXT during the second quarter worth $553,000. Transamerica Financial Advisors LLC bought a new position in shares of Crane NXT in the 2nd quarter valued at about $26,000. Finally, Corient Private Wealth LP bought a new stake in Crane NXT in the second quarter valued at approximately $1,134,000. 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.