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

Cricut Stock Down 3.4 %

Cricut stock traded down $0.28 during mid-day trading on Thursday, hitting $7.86. The company’s stock had a trading volume of 1,712,395 shares, compared to its average volume of 933,048. Cricut has a twelve month low of $4.43 and a twelve month high of $17.89. The stock’s fifty day moving average price is $5.11 and its two-hundred day moving average price is $6.06. The stock has a market capitalization of $1.70 billion, a P/E ratio of 32.13 and a beta of 0.03.

Cricut (NASDAQ:CRCT) last released its quarterly earnings results on Tuesday, March 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 $231.25 million during the quarter, compared to analyst estimates of $252.67 million. Cricut had a net margin of 7.01% and a return on equity of 9.59%. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. Equities analysts expect that Cricut will post 0.25 earnings per share for the current year.

Insider Transactions at Cricut

In related news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 5,273,978 shares of the company’s stock, valued at approximately $25,473,313.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 18.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CRCT shares. Citigroup reduced 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 lowered their price target on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, Barclays decreased their price target on shares of Cricut from $6.00 to $4.00 and set an “underweight” rating for the company in a 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.