Cricut, Inc. (CRCT) to Issue None Dividend of $0.50 on January 21st

Cricut, Inc. (NASDAQ:CRCT) declared a None dividend on Friday, November 1st,Zacks Dividends reports. Investors of record on Tuesday, January 7th will be paid a dividend of 0.50 per share on Tuesday, January 21st. This represents a yield of 3.4%. The ex-dividend date is Tuesday, January 7th.

Cricut has a dividend payout ratio of 69.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Cricut to earn $0.30 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 66.7%.

Cricut Trading Up 3.7 %

NASDAQ:CRCT opened at $5.87 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 20.96 and a beta of 0.03. Cricut has a 1 year low of $4.43 and a 1 year high of $8.40. The firm has a 50 day moving average of $5.78 and a 200-day moving average of $5.99.

Cricut (NASDAQ:CRCT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $167.89 million during the quarter, compared to the consensus estimate of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, analysts forecast that Cricut will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Arora Ashish sold 60,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.87, for a total value of $352,200.00. Following the transaction, the chief executive officer now owns 3,897,038 shares of the company’s stock, valued at approximately $22,875,613.06. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald B. Olsen sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.23, for a total transaction of $156,900.00. Following the sale, the executive vice president now directly owns 625,833 shares of the company’s stock, valued at approximately $3,273,106.59. This trade represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,549 shares of company stock worth $1,199,555 in the last quarter. Insiders own 18.02% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reduced their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Wednesday, November 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.