Carter’s (NYSE:CRI) Updates Q2 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its second quarter earnings guidance on Friday morning. The company provided EPS guidance of $0.35-0.45 for the period, compared to the consensus EPS estimate of $0.79. The company issued revenue guidance of $560-570 million, compared to the consensus revenue estimate of $611.68 million. Carter’s also updated its FY 2024 guidance to EPS.

Analyst Ratings Changes

Several brokerages have recently commented on CRI. StockNews.com cut shares of Carter’s from a buy rating to a hold rating in a research report on Wednesday, April 10th. UBS Group increased their target price on Carter’s from $76.00 to $79.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Citigroup lowered their price target on Carter’s from $66.00 to $64.00 and set a sell rating for the company in a report on Thursday, April 18th. Wells Fargo & Company reduced their price objective on Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a research note on Wednesday. Finally, Wedbush boosted their target price on shares of Carter’s from $67.00 to $78.00 and gave the company a neutral rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $73.80.

Carter’s Trading Down 2.2 %

NYSE:CRI opened at $70.01 on Friday. Carter’s has a 12-month low of $60.65 and a 12-month high of $88.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 1.10. The business has a 50 day simple moving average of $79.73 and a 200 day simple moving average of $74.77. The firm has a market capitalization of $2.57 billion, a P/E ratio of 11.17, a P/E/G ratio of 2.09 and a beta of 1.29.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, topping the consensus estimate of $2.52 by $0.24. Carter’s had a net margin of 7.89% and a return on equity of 28.79%. The business had revenue of $858.00 million during the quarter, compared to analyst estimates of $867.81 million. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The company’s quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts predict that Carter’s will post 6.52 EPS for the current year.

Carter’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.20 annualized dividend and a yield of 4.57%. This is an increase from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s dividend payout ratio is presently 51.04%.

Insiders Place Their Bets

In related news, Director Mark Hipp sold 1,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $81.74, for a total transaction of $153,262.50. Following the transaction, the director now owns 10,216 shares in the company, valued at $835,055.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is owned by insiders.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.