Cricut (NASDAQ:CRCT) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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

Cricut Stock Up 2.7 %

Shares of Cricut stock traded up $0.15 on Thursday, hitting $5.72. The stock had a trading volume of 32,955 shares, compared to its average volume of 697,103. Cricut has a twelve month low of $4.43 and a twelve month high of $8.40. The business’s 50 day moving average is $6.36 and its two-hundred day moving average is $6.20. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 19.96 and a beta of 0.13.

Cricut Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 7th. Cricut’s dividend payout ratio is 71.43%.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Arora Ashish sold 77,823 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $6.37, for a total value of $495,732.51. Following the transaction, the chief executive officer now owns 2,690,544 shares of the company’s stock, valued at approximately $17,138,765.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Donald B. Olsen sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arora Ashish sold 77,823 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $6.37, for a total value of $495,732.51. Following the sale, the chief executive officer now directly owns 2,690,544 shares in the company, valued at $17,138,765.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,112 shares of company stock valued at $1,599,515. 18.02% of the stock is owned by insiders.

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.