$13.50 Million in Sales Expected for Crown Crafts, Inc. (NASDAQ:CRWS) This Quarter
Analysts expect Crown Crafts, Inc. (NASDAQ:CRWS) to announce $13.50 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Crown Crafts’ earnings. The lowest sales estimate is $13.49 million and the highest is $13.50 million. Crown Crafts posted sales of $15.60 million in the same quarter last year, which suggests a negative year over year growth rate of 13.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Crown Crafts will report full year sales of $13.50 million for the current year, with estimates ranging from $60.40 million to $63.45 million. For the next year, analysts expect that the firm will report sales of $58.30 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Crown Crafts.
Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings data on Wednesday, June 14th. The textile maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.02. Crown Crafts had a return on equity of 14.07% and a net margin of 8.45%. The firm had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $20.89 million.
Several equities analysts have weighed in on CRWS shares. Zacks Investment Research cut shares of Crown Crafts from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. TheStreet cut shares of Crown Crafts from a “b-” rating to a “c+” rating in a research report on Friday, June 23rd. Finally, Roth Capital set a $9.00 price objective on shares of Crown Crafts and gave the stock a “buy” rating in a research report on Saturday, June 17th.
A number of institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. boosted its position in Crown Crafts by 107.3% in the first quarter. North Star Investment Management Corp. now owns 350,066 shares of the textile maker’s stock valued at $2,879,000 after buying an additional 181,160 shares in the last quarter. Bard Associates Inc. boosted its position in Crown Crafts by 1,659.8% in the first quarter. Bard Associates Inc. now owns 180,120 shares of the textile maker’s stock valued at $1,481,000 after buying an additional 169,885 shares in the last quarter. Nationwide Fund Advisors bought a new position in Crown Crafts during the first quarter valued at approximately $270,000. Wellington Management Group LLP boosted its position in Crown Crafts by 3.3% in the first quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock valued at $7,439,000 after buying an additional 28,400 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 41.45% of the company’s stock.
Crown Crafts (CRWS) opened at 6.95 on Thursday. The firm’s 50-day moving average is $7.42 and its 200 day moving average is $7.67. Crown Crafts has a 52-week low of $6.60 and a 52-week high of $10.24. The stock has a market capitalization of $69.90 million, a PE ratio of 12.64 and a beta of 0.52.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.60%. The ex-dividend date is Wednesday, June 14th. Crown Crafts’s payout ratio is 57.14%.
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Crown Crafts Company Profile
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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