Crown Crafts (NASDAQ:CRWS) Shares Cross Above Fifty Day Moving Average on Disappointing Earnings

Crown Crafts, Inc. (NASDAQ:CRWS)’s stock price passed above its fifty day moving average during trading on Friday after the company announced better than expected quarterly earnings. The stock has a fifty day moving average of $2.49 and traded as high as $2.57. Crown Crafts shares last traded at $2.52, with a volume of 77,028 shares trading hands.

The textile maker reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Crown Crafts had a net margin of 6.55% and a return on equity of 13.11%. The company had revenue of $19.03 million for the quarter, compared to analysts’ expectations of $20.90 million.

Crown Crafts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, December 11th. Crown Crafts’s payout ratio is 25.53%.

Analysts Set New Price Targets

CRWS has been the topic of several research analyst reports. Wall Street Zen raised Crown Crafts to a “strong-buy” rating in a report on Saturday, August 29th. Weiss Ratings raised Crown Crafts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. One analyst has rated the stock with a Hold rating. According to MarketBeat, Crown Crafts presently has an average rating of “Hold”.

Hedge Funds Weigh In On Crown Crafts

Several institutional investors have recently made changes to their positions in the business. Cibc World Market Inc. purchased a new position in shares of Crown Crafts in the second quarter worth approximately $28,000. GSA Capital Partners LLP purchased a new position in shares of Crown Crafts during the 2nd quarter worth $34,000. Deutsche Bank AG purchased a new position in shares of Crown Crafts during the 2nd quarter worth $82,000. Beacon Pointe Advisors LLC purchased a new position in shares of Crown Crafts during the 2nd quarter worth $88,000. Finally, Empowered Funds LLC bought a new stake in shares of Crown Crafts during the 2nd quarter valued at $173,000. Institutional investors own 30.23% of the company’s stock.

Crown Crafts Stock Performance

The business’s 50-day moving average price is $2.49 and its 200-day moving average price is $2.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 3.20. The stock has a market cap of $27.12 million, a P/E ratio of 5.25 and a beta of 0.68.

Crown Crafts Company Profile

Crown Crafts, Inc. is a consumer products company that designs, markets and distributes products for infants, toddlers and young children. Its offerings include feeding and care products, bibs, bath accessories, developmental toys, activity products, nursery bedding, blankets and other nursery accessories. The company sells products through mass-market retailers, specialty stores and e-commerce channels. Crown Crafts markets products under proprietary brands such as Neat Solutions and Sassy, as well as through licensed brands and designs.