Cricut, Inc. (CRCT) to Issue Semi-Annual Dividend of $0.50 on July 19th

Cricut, Inc. (NASDAQ:CRCT) declared a Semi-Annual dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Tuesday, July 2nd will be given a dividend of 0.50 per share on Friday, July 19th. This represents a dividend yield of 1.3%. The ex-dividend date is Tuesday, July 2nd.

Cricut Price Performance

NASDAQ CRCT traded down $0.28 during trading on Thursday, reaching $7.86. The company’s stock had a trading volume of 1,712,395 shares, compared to its average volume of 933,048. The firm has a fifty day moving average of $5.11 and a 200 day moving average of $6.06. Cricut has a one year low of $4.43 and a one year high of $17.89. The stock has a market capitalization of $1.70 billion, a PE ratio of 32.13 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Cricut had a net margin of 7.01% and a return on equity of 9.59%. The company had revenue of $231.25 million during the quarter, compared to analysts’ expectations of $252.67 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year. Research analysts expect that Cricut will post 0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $4.83, for a total transaction of $4,830,000.00. Following the completion of the transaction, the insider now directly owns 5,273,978 shares of the company’s stock, valued at $25,473,313.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.02% of the company’s stock.

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.