Crown Crafts, Inc. (NASDAQ:CRWS) – Investment analysts at DA Davidson dropped their Q2 2020 earnings per share estimates for Crown Crafts in a report issued on Friday, June 14th. DA Davidson analyst L. Weiser now anticipates that the textile maker will post earnings of $0.17 per share for the quarter, down from their prior estimate of $0.18. DA Davidson also issued estimates for Crown Crafts’ Q3 2020 earnings at $0.14 EPS, Q4 2020 earnings at $0.17 EPS and FY2020 earnings at $0.52 EPS.
Separately, ValuEngine upgraded Crown Crafts from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 23rd.
Crown Crafts (NASDAQ:CRWS) last announced its quarterly earnings results on Thursday, June 13th. The textile maker reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Crown Crafts had a net margin of 6.57% and a return on equity of 12.61%. The firm had revenue of $21.72 million during the quarter, compared to analysts’ expectations of $20.40 million.
Hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new stake in Crown Crafts in the 4th quarter worth approximately $164,000. Dimensional Fund Advisors LP boosted its stake in Crown Crafts by 375.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 195,393 shares of the textile maker’s stock worth $1,055,000 after purchasing an additional 154,318 shares in the last quarter. North Star Investment Management Corp. boosted its stake in Crown Crafts by 3.1% in the 1st quarter. North Star Investment Management Corp. now owns 813,436 shares of the textile maker’s stock worth $4,197,000 after purchasing an additional 24,157 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV acquired a new stake in Crown Crafts in the 1st quarter worth approximately $68,000. Finally, LSV Asset Management boosted its stake in Crown Crafts by 4.6% in the 1st quarter. LSV Asset Management now owns 53,864 shares of the textile maker’s stock worth $277,000 after purchasing an additional 2,370 shares in the last quarter. Institutional investors and hedge funds own 37.51% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date of this dividend is Thursday, June 13th. Crown Crafts’s dividend payout ratio is currently 64.00%.
About Crown Crafts
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.
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