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

Carter’s (NYSE:CRI) updated its second quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.35-0.45 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company lowered their price target on shares of Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday. Evercore ISI lifted their price target on shares of Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a report on Wednesday, February 28th. Wedbush lifted their price target on shares of Carter’s from $67.00 to $78.00 and gave the stock a neutral rating in a report on Friday, February 23rd. Finally, Monness Crespi & Hardt cut shares of Carter’s from a buy rating to a neutral rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $73.80.

Carter’s Price Performance

Shares of CRI traded down $1.55 during mid-day trading on Friday, reaching $70.01. 1,722,308 shares of the stock traded hands, compared to its average volume of 790,624. The firm has a fifty day moving average price of $79.73 and a 200 day moving average price of $74.77. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.59. Carter’s has a 1 year low of $60.65 and a 1 year high of $88.03.

Carter’s (NYSE:CRI) last announced its earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share (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 company had revenue of $858.00 million during the quarter, compared to analyst estimates of $867.81 million. During the same period in the previous year, the business earned $2.29 earnings per share. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, equities research analysts predict that Carter’s will post 6.52 earnings per share for the current year.

Carter’s Increases Dividend

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

Insiders Place Their Bets

In other news, Director Mark Hipp sold 1,875 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $81.74, for a total transaction of $153,262.50. Following the completion of the transaction, the director now directly owns 10,216 shares of the company’s stock, valued at $835,055.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently 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.