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

Cricut, Inc. (NASDAQ:CRCT) announced a Semi-Annual dividend on Monday, May 6th, Zacks reports. Investors of record on Tuesday, July 2nd will be paid 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 has a dividend payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ:CRCT opened at $5.99 on Friday. Cricut has a 12 month low of $4.43 and a 12 month high of $14.26. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 20.66 and a beta of 0.11. The stock’s 50 day moving average price is $6.32 and its 200 day moving average price is $5.79.

Cricut (NASDAQ:CRCT) last announced its earnings results on Tuesday, May 7th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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. On average, sell-side analysts expect that Cricut will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Donald B. Olsen sold 25,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.05, for a total transaction of $176,250.00. Following the transaction, 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 this hyperlink. In related news, EVP Donald B. Olsen sold 25,000 shares of Cricut stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.05, for a total value of $176,250.00. Following the completion of the sale, the executive vice president now owns 573,918 shares of the company’s stock, 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. Also, CEO Arora Ashish sold 56,581 shares of Cricut stock in a transaction on Monday, May 13th. The shares were sold at an average price of $7.06, for a total transaction of $399,461.86. Following the completion of the sale, the chief executive officer now directly owns 2,033,839 shares of the company’s stock, valued at approximately $14,358,903.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,847 shares of company stock worth $2,130,703. Corporate insiders own 18.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CRCT shares. The Goldman Sachs Group dropped 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. Citigroup dropped their price target on Cricut from $8.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, Barclays dropped their price target on Cricut from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, March 7th.

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.