Crown Crafts, Inc. (NASDAQ:CRWS) Plans $0.08 Quarterly Dividend

Crown Crafts, Inc. (NASDAQ:CRWS) declared a quarterly dividend on Tuesday, August 13th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.08 per share by the textile maker on Friday, October 4th. This represents a $0.32 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Thursday, September 12th.

Crown Crafts has a payout ratio of 42.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Crown Crafts to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 60.4%.

Shares of NASDAQ CRWS traded down $0.02 during midday trading on Tuesday, reaching $5.45. 626 shares of the company’s stock were exchanged, compared to its average volume of 19,233. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.47 and a current ratio of 3.23. Crown Crafts has a 52-week low of $4.01 and a 52-week high of $6.15. The business’s fifty day moving average price is $5.02 and its two-hundred day moving average price is $4.97. The stock has a market capitalization of $53.73 million, a PE ratio of 10.90 and a beta of 0.44.

Crown Crafts (NASDAQ:CRWS) last issued its quarterly earnings results on Wednesday, August 14th. The textile maker reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Crown Crafts had a return on equity of 13.54% and a net margin of 7.59%. The firm had revenue of $15.94 million during the quarter, compared to the consensus estimate of $15.60 million. Analysts predict that Crown Crafts will post 0.52 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. ValuEngine upgraded Crown Crafts from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 4th. Zacks Investment Research raised Crown Crafts from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th.

In related news, insider Nanci Freeman sold 15,000 shares of Crown Crafts stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $5.18, for a total value of $77,700.00. Following the sale, the insider now directly owns 157,030 shares in the company, valued at approximately $813,415.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.63% of the stock is owned by company insiders.

Crown Crafts Company Profile

Crown Crafts, Inc, through its subsidiaries, operates in the consumer products industry in the United States and internationally. It provides infant, toddler, and juvenile products, including infant and toddler beddings; blankets and swaddle blankets; nursery and toddler accessories; room décors; reusable and disposable bibs; burp cloths; hooded bath towels and washcloths; reusable and disposable placemats, and floor mats; disposable toilet seat covers and changing mats; developmental toys; feeding and care goods; and other infant, toddler, and juvenile soft goods.

See Also: Net Asset Value

Dividend History for Crown Crafts (NASDAQ:CRWS)

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