Cricut, Inc. (NASDAQ:CRCT) Announces Dividend of $0.10

Cricut, Inc. (NASDAQ:CRCT) announced a dividend on Tuesday, November 4th. Investors of record on Tuesday, January 6th will be given a dividend of 0.10 per share on Tuesday, January 20th. This represents a dividend yield of 399.0%. The ex-dividend date of this dividend is Tuesday, January 6th.

Cricut has a payout ratio of 87.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Price Performance

Shares of NASDAQ:CRCT traded down $0.13 during trading on Wednesday, hitting $4.88. 494,059 shares of the company’s stock were exchanged, compared to its average volume of 532,476. Cricut has a 52-week low of $3.94 and a 52-week high of $7.33. The business’s 50-day simple moving average is $5.85 and its 200 day simple moving average is $5.83. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 14.88 and a beta of 0.17.

Cricut (NASDAQ:CRCT) last released its earnings results on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. Cricut had a return on equity of 16.49% and a net margin of 10.09%.The firm had revenue of $170.40 million during the quarter, compared to analysts’ expectations of $156.93 million. On average, sell-side analysts anticipate that Cricut will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

CRCT has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Cricut in a report on Wednesday, October 8th. Wall Street Zen cut Cricut from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, The Goldman Sachs Group cut Cricut from a “neutral” rating to a “sell” rating and cut their price target for the company from $5.50 to $4.75 in a report on Thursday, October 16th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cricut has an average rating of “Strong Sell” and a consensus price target of $4.18.

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.