Crawford & Company (NYSE:CRD.B) Shares Gap Down - Here's Why

Key Points

• Crawford & Company shares experienced a gap down opening, falling from a previous close of $10.18 to $9.85, later trading at $10.23 with a volume of 122 shares.
• The company reported a net loss per share of $0.22 for its recent quarter, missing the consensus estimate, and had revenue of $323 million against expectations of $330.99 million.
• Crawford & Company increased its quarterly dividend to $0.075, representing a 2.9% yield, with a payout ratio of 50.85%.

Crawford & Company (NYSE:CRD.B - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $10.18, but opened at $9.85. Crawford & Company shares last traded at $10.23, with a volume of 122 shares changing hands.

Crawford & Company Stock Performance

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a fifty day simple moving average of $10.23 and a 200 day simple moving average of $10.41. The company has a market capitalization of $511.79 million, a price-to-earnings ratio of 17.47 and a beta of 0.80.

Crawford & Company (NYSE:CRD.B - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The business services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Crawford & Company had a net margin of 2.18% and a return on equity of 25.91%. The business had revenue of $323.00 million during the quarter, compared to analyst estimates of $330.99 million. On average, analysts anticipate that Crawford & Company will post 0.83 earnings per share for the current fiscal year.

Crawford & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Crawford & Company's previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 2.9%. Crawford & Company's dividend payout ratio is 50.85%.

About Crawford & Company

Crawford & Co engages in the provision of claims management and outsourcing solutions to carriers, brokers, and corporates. It operates through the following segments: Crawford Loss Adjusting, Crawford TPA Solutions, and Crawford Platform Solutions. The Crawford Loss Adjusting segment consists of adjusting services provided to insurance companies and self-insured entities related to property and casualty losses caused by physical damage to commercial and residential real property and certain types of personal property.

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