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

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

Cricut Price Performance

NASDAQ CRCT traded down $0.43 on Thursday, hitting $7.71. The company had a trading volume of 1,152,863 shares, compared to its average volume of 926,482. The company has a market capitalization of $1.67 billion, a PE ratio of 33.92 and a beta of 0.03. Cricut has a 12-month low of $4.43 and a 12-month high of $17.89. The company’s fifty day moving average price is $5.11 and its 200-day moving average price is $6.06.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $231.25 million during the quarter, compared to analyst estimates of $252.67 million. Cricut had a return on equity of 9.59% and a net margin of 7.01%. The business’s revenue was down 17.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, sell-side analysts anticipate that Cricut will post 0.25 EPS for the current year.

Insider Transactions at Cricut

In related news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of Cricut stock in a transaction on 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 sale, the insider now directly owns 5,273,978 shares in the company, valued at approximately $25,473,313.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CRCT. Citigroup dropped their price target on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research report 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 on the stock in a research report on Wednesday, March 6th. Finally, Barclays lowered their price target on Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, March 7th.

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.