Cricut, Inc. Announces None Dividend of $0.50 (NASDAQ:CRCT)

Cricut, Inc. (NASDAQ:CRCT) announced a None dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Tuesday, January 7th will be given a dividend of 0.50 per share on Tuesday, January 21st. The ex-dividend date is Tuesday, January 7th.

Cricut has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NASDAQ:CRCT traded up $0.02 during mid-day trading on Thursday, reaching $5.59. 7,144 shares of the company were exchanged, compared to its average volume of 696,999. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 19.89 and a beta of 0.13. The firm’s 50-day simple moving average is $6.36 and its 200 day simple moving average is $6.20. Cricut has a 1 year low of $4.43 and a 1 year high of $8.40.

Cricut (NASDAQ:CRCT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $167.89 million for the quarter, compared to analysts’ expectations of $165.35 million. Cricut had a return on equity of 13.18% and a net margin of 9.16%. During the same period in the previous year, the business posted $0.08 EPS. On average, research analysts forecast that Cricut will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Arora Ashish sold 38,495 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $5.94, for a total value of $228,660.30. Following the sale, the chief executive officer now directly owns 2,505,840 shares in the company, valued at approximately $14,884,689.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the transaction, the executive vice president now directly owns 655,833 shares of the company’s stock, valued at $3,764,481.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Arora Ashish sold 38,495 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $5.94, for a total transaction of $228,660.30. Following the completion of the transaction, the chief executive officer now directly owns 2,505,840 shares in the company, valued at $14,884,689.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,112 shares of company stock worth $1,599,515. 18.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their target price on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday.

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.