Cricut (NASDAQ:CRCT) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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

Cricut Stock Performance

Shares of CRCT stock opened at $5.80 on Friday. Cricut has a 1 year low of $4.43 and a 1 year high of $8.40. The stock has a fifty day moving average of $6.36 and a two-hundred day moving average of $6.20. The firm has a market capitalization of $1.25 billion, a PE ratio of 18.71 and a beta of 0.13.

Cricut Announces Dividend

The firm also recently announced a None dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be given a $0.50 dividend. This represents a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, January 7th. Cricut’s dividend payout ratio is currently 64.52%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group decreased their price target on shares of Cricut from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Wednesday.

Insider Activity

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

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.