Cricut, Inc. (CRCT) To Go Ex-Dividend on July 7th

Cricut, Inc. (NASDAQ:CRCT) announced a dividend on Tuesday, May 5th. Investors of record on Tuesday, July 7th will be paid a dividend of 0.10 per share on Tuesday, July 21st. This represents a yield of 474.0%. The ex-dividend date of this dividend is Tuesday, July 7th.

Cricut has a dividend payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Cricut to earn $0.18 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 111.1%.

Cricut Stock Up 5.2%

NASDAQ:CRCT opened at $4.44 on Thursday. Cricut has a 12-month low of $3.73 and a 12-month high of $7.33. The firm has a market capitalization of $940.30 million, a price-to-earnings ratio of 12.69 and a beta of 0.22. The stock’s 50 day moving average price is $4.21 and its two-hundred day moving average price is $4.60.

Cricut (NASDAQ:CRCT) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Cricut had a return on equity of 21.70% and a net margin of 10.36%.The business had revenue of $159.47 million for the quarter, compared to analyst estimates of $164.33 million. Equities research analysts expect that Cricut will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on CRCT. The Goldman Sachs Group reiterated a “sell” rating and issued a $3.75 price objective on shares of Cricut in a report on Wednesday. UBS Group restated a “cautious” rating on shares of Cricut in a research note on Wednesday, March 4th. Barclays reiterated an “underweight” rating and issued a $4.00 price target on shares of Cricut in a research note on Wednesday, March 4th. Finally, Weiss Ratings raised shares of Cricut from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Cricut presently has an average rating of “Strong Sell” and a consensus price target of $3.88.

Cricut Company Profile

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.