Cricut, Inc. (NASDAQ:CRCT) Plans None Dividend of $0.50

Cricut, Inc. (NASDAQ:CRCT) announced 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 dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th.

Cricut has a dividend payout ratio of 69.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of NASDAQ CRCT opened at $5.87 on Friday. Cricut has a 52-week low of $4.43 and a 52-week high of $8.40. The stock has a market cap of $1.26 billion, a P/E ratio of 20.96 and a beta of 0.03. The firm has a 50 day moving average price of $5.78 and a 200 day moving average price of $5.99.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results 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 firm had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same period last year, the firm earned $0.08 EPS. Analysts predict that Cricut will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered their price target on Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Insider Activity

In other Cricut news, EVP Donald B. Olsen sold 30,000 shares of the company’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 completion of the transaction, the executive vice president now owns 625,833 shares of the company’s stock, valued at $3,273,106.59. This represents a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arora Ashish sold 21,250 shares of Cricut stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $5.94, for a total transaction of $126,225.00. Following the completion of the sale, the chief executive officer now owns 3,780,840 shares in the company, valued at $22,458,189.60. This trade represents a 0.56 % 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 over the last quarter. 18.02% of the stock is currently owned by company insiders.

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.