Crown Crafts (NASDAQ:CRWS) Shares Cross Above Fifty Day Moving Average on Disappointing Earnings

Crown Crafts, Inc. (NASDAQ:CRWS) shares passed above its 50 day moving average during trading on Friday following a better than expected earnings announcement. The stock has a 50 day moving average of $2.49 and traded as high as $2.57. Crown Crafts shares last traded at $2.52, with a volume of 77,028 shares trading hands.

The textile maker reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). Crown Crafts had a net margin of 6.55% and a return on equity of 13.11%. The business had revenue of $19.03 million for the quarter, compared to the consensus estimate of $20.90 million.

Crown Crafts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Friday, December 11th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, December 11th. This represents a $0.12 dividend on an annualized basis and a yield of 4.8%. Crown Crafts’s payout ratio is presently 25.53%.

Analysts Set New Price Targets

Several research firms have commented on CRWS. Weiss Ratings raised Crown Crafts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, November 4th. Wall Street Zen upgraded Crown Crafts to a “strong-buy” rating in a report on Saturday, August 29th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Crown Crafts presently has an average rating of “Hold”.

Hedge Funds Weigh In On Crown Crafts

A number of hedge funds have recently added to or reduced their stakes in the company. Cibc World Market Inc. bought a new position in shares of Crown Crafts during the second quarter valued at $28,000. GSA Capital Partners LLP purchased a new stake in shares of Crown Crafts during the second quarter valued at $34,000. Deutsche Bank AG purchased a new stake in shares of Crown Crafts during the second quarter valued at $82,000. Beacon Pointe Advisors LLC bought a new stake in Crown Crafts in the 2nd quarter worth about $88,000. Finally, Empowered Funds LLC bought a new stake in Crown Crafts in the 2nd quarter worth about $173,000. 30.23% of the stock is currently owned by hedge funds and other institutional investors.

Crown Crafts Price Performance

The firm has a fifty day moving average of $2.49 and a 200 day moving average of $2.76. The company has a current ratio of 3.20, a quick ratio of 1.40 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $27.12 million, a P/E ratio of 5.25 and a beta of 0.68.

About Crown Crafts

Crown Crafts, Inc. is a consumer products company that designs, markets and distributes products for infants, toddlers and young children. Its offerings include feeding and care products, bibs, bath accessories, developmental toys, activity products, nursery bedding, blankets and other nursery accessories. The company sells products through mass-market retailers, specialty stores and e-commerce channels. Crown Crafts markets products under proprietary brands such as Neat Solutions and Sassy, as well as through licensed brands and designs.