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

Cricut, Inc. (NASDAQ:CRCT) declared a Semi-Annual dividend on Monday, May 6th, 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 has a dividend payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.5 %

Cricut stock opened at $5.99 on Monday. The business’s 50 day simple moving average is $6.32 and its 200 day simple moving average is $5.78. Cricut has a 12 month low of $4.43 and a 12 month high of $14.26. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 20.66 and a beta of 0.10.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Cricut had a return on equity of 12.25% and a net margin of 8.54%. The firm had revenue of $167.39 million for the quarter, compared to analysts’ expectations of $174.20 million. As a group, equities research analysts forecast that Cricut will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Cricut

In other Cricut news, EVP Donald B. Olsen sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $7.05, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president now directly owns 573,918 shares in the company, valued at approximately $4,046,121.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cricut news, EVP Donald B. Olsen sold 25,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $7.05, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president now directly owns 573,918 shares in the company, valued at approximately $4,046,121.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Donald B. Olsen sold 11,045 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $7.48, for a total value of $82,616.60. Following the sale, the executive vice president now owns 562,873 shares of the company’s stock, valued at approximately $4,210,290.04. The disclosure for this sale can be found here. Insiders sold a total of 298,847 shares of company stock valued at $2,130,703 in the last 90 days. Corporate insiders own 18.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRCT shares. Citigroup lowered their price target on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Barclays cut their price target on Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, March 7th. Finally, 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.

About Cricut

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.