Cricut (CRCT) to Release Quarterly Earnings on Tuesday

Cricut (NASDAQ:CRCTGet Rating) is scheduled to announce its earnings results after the market closes on Tuesday, August 9th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Cricut (NASDAQ:CRCTGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Cricut had a return on equity of 17.31% and a net margin of 9.34%. The company had revenue of $244.78 million for the quarter, compared to analysts’ expectations of $257.22 million. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. On average, analysts expect Cricut to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Cricut Trading Up 2.8 %

Shares of NASDAQ CRCT opened at $6.93 on Tuesday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 13.59 and a beta of 1.40. The stock has a fifty day simple moving average of $6.95 and a two-hundred day simple moving average of $11.99. Cricut has a 1-year low of $5.88 and a 1-year high of $38.31.

Insider Activity at Cricut

In other news, major shareholder Abdiel Capital Management, Llc purchased 123,413 shares of the business’s stock in a transaction on Friday, May 6th. The stock was purchased at an average cost of $12.00 per share, with a total value of $1,480,956.00. Following the acquisition, the insider now directly owns 14,548,434 shares in the company, valued at $174,581,208. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 16.77% of the stock is owned by corporate insiders.

Institutional Trading of Cricut

A number of hedge funds have recently made changes to their positions in CRCT. California State Teachers Retirement System boosted its holdings in shares of Cricut by 16.3% in the 1st quarter. California State Teachers Retirement System now owns 12,335 shares of the company’s stock worth $161,000 after purchasing an additional 1,732 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Cricut during the first quarter valued at approximately $205,000. JPMorgan Chase & Co. raised its stake in shares of Cricut by 27,504.0% during the first quarter. JPMorgan Chase & Co. now owns 20,703 shares of the company’s stock worth $271,000 after acquiring an additional 20,628 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Cricut by 27.0% in the 1st quarter. Swiss National Bank now owns 34,300 shares of the company’s stock worth $449,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cricut by 15.4% in the 1st quarter. Bank of New York Mellon Corp now owns 84,178 shares of the company’s stock valued at $1,102,000 after purchasing an additional 11,248 shares in the last quarter. 16.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CRCT shares. Citigroup dropped their price objective on shares of Cricut from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, July 14th. Morgan Stanley reduced their price objective on shares of Cricut from $8.70 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, Cricut has a consensus rating of “Hold” and an average target price of $12.80.

Cricut Company Profile

(Get Rating)

Cricut, Inc designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in 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.

See Also

Earnings History for Cricut (NASDAQ:CRCT)

Want More Great Investing Ideas?

Receive News & Ratings for Cricut Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cricut and related companies with MarketBeat.com's FREE daily email newsletter.