$17.07 Million in Sales Expected for Crown Crafts, Inc. (CRWS) This Quarter
Wall Street brokerages forecast that Crown Crafts, Inc. (NASDAQ:CRWS) will report $17.07 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Crown Crafts’ earnings, with the lowest sales estimate coming in at $16.52 million and the highest estimate coming in at $17.63 million. Crown Crafts posted sales of $15.81 million in the same quarter last year, which suggests a positive year over year growth rate of 8%. 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 sales of $17.07 million for the current fiscal year, with estimates ranging from $69.32 million to $70.41 million. For the next fiscal year, analysts forecast that the firm will report sales of $74.63 million per share, with estimates ranging from $74.22 million to $75.03 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover 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, meeting analysts’ consensus estimates of $0.08. Crown Crafts had a return on equity of 13.46% and a net margin of 7.79%. The firm had revenue of $13.65 million for the quarter, compared to analyst estimates of $13.49 million.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Crown Crafts from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. FBR & Co upgraded Crown Crafts from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.00 to $7.50 in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $7.69.
In other Crown Crafts news, Director Donald R. Ratajczak purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $5.75 per share, for a total transaction of $28,750.00. Following the completion of the purchase, the director now directly owns 125,151 shares in the company, valued at $719,618.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 14.17% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CRWS. Nationwide Fund Advisors purchased a new stake in Crown Crafts during the first quarter worth $270,000. JPMorgan Chase & Co. boosted its position in Crown Crafts by 3,825.5% during 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. Wellington Management Group LLP boosted its position in Crown Crafts by 3.3% during the first quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock worth $7,439,000 after purchasing an additional 28,400 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Crown Crafts during the first quarter worth $154,000. Finally, North Star Investment Management Corp. boosted its position in Crown Crafts by 20.9% during the second quarter. North Star Investment Management Corp. now owns 423,272 shares of the textile maker’s stock worth $2,942,000 after purchasing an additional 73,206 shares in the last quarter. Institutional investors own 43.36% of the company’s stock.
Shares of Crown Crafts (NASDAQ:CRWS) traded up 0.955% on Wednesday, hitting $6.133. The stock had a trading volume of 245 shares. The stock has a market cap of $61.68 million, a P/E ratio of 12.516 and a beta of 0.39. The firm has a 50 day moving average of $6.42 and a 200 day moving average of $6.73. Crown Crafts has a 12 month low of $5.40 and a 12 month high of $9.95.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.27%. Crown Crafts’s dividend payout ratio (DPR) is presently 64.00%.
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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