Crown Crafts, Inc. (CRWS) Posts Earnings Results, Misses Expectations By $0.02 EPS
Crown Crafts, Inc. (NASDAQ:CRWS) announced its earnings results on Wednesday. The textile maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02, Bloomberg Earnings reports. Crown Crafts had a net margin of 8.35% and a return on equity of 15.44%. The firm had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $20.89 million.
Crown Crafts (CRWS) opened at 7.10 on Thursday. Crown Crafts has a 52 week low of $7.05 and a 52 week high of $10.24. The stock has a market cap of $71.23 million, a PE ratio of 11.64 and a beta of 0.51. The stock has a 50 day moving average price of $7.70 and a 200 day moving average price of $7.76.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Wednesday, June 14th. Crown Crafts’s payout ratio is presently 51.61%.
A number of brokerages recently commented on CRWS. Zacks Investment Research cut Crown Crafts from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Roth Capital set a $11.00 target price on Crown Crafts and gave the company a “buy” rating in a report on Thursday, February 16th.
Several large investors have recently modified their holdings of CRWS. Morgan Stanley increased its stake in shares of Crown Crafts by 143.8% in the first quarter. Morgan Stanley now owns 18,445 shares of the textile maker’s stock valued at $152,000 after buying an additional 10,879 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Crown Crafts during the first quarter valued at $154,000. JPMorgan Chase & Co. increased its stake in shares of Crown Crafts by 3,825.5% in the first quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock valued at $194,000 after buying an additional 22,953 shares during the last quarter. Nationwide Fund Advisors bought a new stake in shares of Crown Crafts during the first quarter valued at $270,000. Finally, LSV Asset Management increased its stake in shares of Crown Crafts by 4.4% in the first quarter. LSV Asset Management now owns 47,100 shares of the textile maker’s stock valued at $388,000 after buying an additional 1,978 shares during the last quarter. 41.54% of the stock is owned by institutional investors.
About Crown Crafts
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc and Hamco, Inc, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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