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

Cricut, Inc. (NASDAQ:CRCT) declared 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. The ex-dividend date is Tuesday, July 2nd.

Cricut Price Performance

Shares of Cricut stock traded down $0.43 on Thursday, reaching $7.71. 1,152,863 shares of the company were exchanged, compared to its average volume of 926,482. Cricut has a 1-year low of $4.43 and a 1-year high of $17.89. The company has a market cap of $1.67 billion, a P/E ratio of 33.92 and a beta of 0.03. The stock’s 50 day moving average price is $5.11 and its 200-day moving average price is $6.06.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Cricut had a return on equity of 9.59% and a net margin of 7.01%. The firm had revenue of $231.25 million during the quarter, compared to analyst estimates of $252.67 million. During the same quarter in the previous year, the business posted $0.05 EPS. Cricut’s revenue was down 17.6% compared to the same quarter last year. On average, research analysts predict that Cricut will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRCT. The Goldman Sachs Group lowered their target price on Cricut from $7.00 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. 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. Finally, Citigroup reduced their price objective on shares of Cricut from $8.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th.

Insider Transactions at Cricut

In other news, major shareholder Abdiel Capital Management, Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $4.83, for a total value of $4,830,000.00. Following the completion of the transaction, the insider now owns 5,273,978 shares in the company, valued at $25,473,313.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.02% of the stock is currently owned by insiders.

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.