Cricut (NASDAQ:CRCT) Posts Earnings Results

Cricut (NASDAQ:CRCT) announced its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02), Zacks reports. The company had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a net margin of 9.16% and a return on equity of 13.18%. During the same quarter last year, the business earned $0.08 EPS.

Cricut Price Performance

Cricut stock opened at $5.80 on Friday. Cricut has a 12-month low of $4.43 and a 12-month high of $8.40. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 18.71 and a beta of 0.13. The firm’s fifty day moving average price is $6.36 and its 200 day moving average price is $6.20.

Cricut Announces Dividend

The company also recently declared a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.50 per share. This represents a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s dividend payout ratio (DPR) is 64.52%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Donald B. Olsen sold 40,000 shares of Cricut stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.74, for a total transaction of $229,600.00. Following the sale, the executive vice president now owns 655,833 shares of the company’s stock, valued at $3,764,481.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Donald B. Olsen sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $5.74, for a total value of $229,600.00. Following the completion of the sale, the executive vice president now owns 655,833 shares of the company’s stock, valued at approximately $3,764,481.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arora Ashish sold 53,301 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.79, for a total transaction of $308,612.79. Following the completion of the sale, the chief executive officer now directly owns 2,637,243 shares of the company’s stock, valued at $15,269,636.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,289 shares of company stock valued at $1,103,782 in the last quarter. Company insiders own 18.02% of the company’s stock.

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.