Crown Crafts, Inc. (CRWS) Expected to Announce Earnings of $0.11 Per Share
Analysts expect Crown Crafts, Inc. (NASDAQ:CRWS) to report earnings per share (EPS) of $0.11 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Crown Crafts’ earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.11. Crown Crafts posted earnings of $0.10 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The company is expected to issue its next quarterly earnings results on Wednesday, November 15th.
According to Zacks, analysts expect that Crown Crafts will report full year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.56 to $0.60. For the next fiscal year, analysts anticipate that the company will report earnings of $0.64 per share, with EPS estimates ranging from $0.62 to $0.65. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Crown Crafts.
Crown Crafts (NASDAQ:CRWS) last announced its earnings results on Thursday, August 10th. The textile maker reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. The business had revenue of $13.65 million for the quarter, compared to analyst estimates of $13.49 million.
CRWS has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Crown Crafts from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a report on Friday, September 8th. FBR & Co upgraded shares of Crown Crafts from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.00 to $7.50 in a research note on Friday, August 11th. Roth Capital set a $9.00 target price on shares of Crown Crafts and gave the company a “buy” rating in a research note on Saturday, June 17th. Finally, TheStreet cut shares of Crown Crafts from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Crown Crafts currently has an average rating of “Buy” and a consensus target price of $7.69.
Shares of Crown Crafts (CRWS) opened at 6.60 on Wednesday. The stock’s 50 day moving average price is $6.50 and its 200-day moving average price is $6.90. Crown Crafts has a 12 month low of $5.40 and a 12 month high of $10.24. The stock has a market capitalization of $66.38 million, a price-to-earnings ratio of 13.47 and a beta of 0.39.
The business also recently announced a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Thursday, September 14th. Crown Crafts’s payout ratio is presently 64.00%.
In related news, Director Donald R. Ratajczak bought 5,000 shares of Crown Crafts stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $5.75 per share, for a total transaction of $28,750.00. Following the completion of the purchase, the director now owns 125,151 shares in the company, valued at $719,618.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.17% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new position in Crown Crafts in the first quarter worth about $154,000. JPMorgan Chase & Co. raised 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 worth $194,000 after purchasing an additional 22,953 shares in the last quarter. Nationwide Fund Advisors acquired a new position in Crown Crafts in the first quarter worth about $270,000. Synovus Financial Corp raised its position in Crown Crafts by 2.4% in the second quarter. Synovus Financial Corp now owns 110,463 shares of the textile maker’s stock worth $768,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Bard Associates Inc. raised its position in Crown Crafts by 0.5% in the second quarter. Bard Associates Inc. now owns 181,070 shares of the textile maker’s stock worth $1,258,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.
Crown Crafts Company Profile
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc, Hamco, Inc and Carousel Designs, LLC, 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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