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

Cricut, Inc. (NASDAQ:CRCT) announced 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. This represents a yield of 1.3%. The ex-dividend date is Tuesday, July 2nd.

Cricut Stock Down 4.9 %

Shares of CRCT stock traded down $0.40 on Thursday, reaching $7.74. The company had a trading volume of 1,315,253 shares, compared to its average volume of 927,914. The stock has a market capitalization of $1.68 billion, a PE ratio of 32.13 and a beta of 0.03. Cricut has a one year low of $4.43 and a one year high of $17.89. The business’s 50-day moving average is $5.11 and its 200 day moving average is $6.06.

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

Wall Street Analyst Weigh In

CRCT has been the subject of several recent research reports. Barclays lowered their price objective on Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group decreased their target price on shares of Cricut from $7.00 to $5.75 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Citigroup decreased their target price 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.

Insider Transactions at Cricut

In related news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $4.83, for a total value of $4,830,000.00. Following the transaction, 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 SEC, which is available through the SEC website. 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.