Cricut, Inc. Announces Semi-Annual Dividend of $0.50 (NASDAQ:CRCT)

Cricut, Inc. (NASDAQ:CRCT) declared a Semi-Annual dividend on Monday, May 6th, Zacks reports. Shareholders of record on Tuesday, July 2nd will be given a dividend of 0.50 per share on Friday, July 19th. This represents a yield of 1.3%. The ex-dividend date is Tuesday, July 2nd.

Cricut has a dividend payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cricut to earn $0.35 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 57.1%.

Cricut Stock Up 1.5 %

Cricut stock opened at $5.99 on Monday. The stock has a market capitalization of $1.30 billion, a PE ratio of 20.66 and a beta of 0.10. The company has a 50 day moving average of $6.32 and a 200-day moving average of $5.78. Cricut has a twelve month low of $4.43 and a twelve month high of $14.26.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Cricut had a net margin of 8.54% and a return on equity of 12.25%. The company had revenue of $167.39 million for the quarter, compared to the consensus estimate of $174.20 million. Equities analysts anticipate that Cricut will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Barclays decreased their price target on Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group dropped their price objective on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 129,186 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $7.11, for a total value of $918,512.46. Following the transaction, the chief executive officer now directly owns 2,090,420 shares of the company’s stock, valued at $14,862,886.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cricut news, CEO Arora Ashish sold 129,186 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $7.11, for a total transaction of $918,512.46. Following the completion of the sale, the chief executive officer now directly owns 2,090,420 shares in the company, valued at $14,862,886.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald B. Olsen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $7.05, for a total value of $176,250.00. Following the sale, the executive vice president now owns 573,918 shares of the company’s stock, valued at approximately $4,046,121.90. The disclosure for this sale can be found here. Insiders sold 298,847 shares of company stock valued at $2,130,703 in the last quarter. 18.02% of the stock is currently owned by insiders.

Cricut Company Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.