Citi Trends (NASDAQ:CTRN) released its quarterly earnings results on Wednesday. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.07), Bloomberg Earnings reports. Citi Trends had a return on equity of 8.43% and a net margin of 1.93%. The firm had revenue of $211.03 million for the quarter, compared to analysts’ expectations of $210.70 million. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Citi Trends updated its FY19 guidance to $1.55-1.70 EPS.
Citi Trends opened at $30.51 on Wednesday, according to MarketBeat Ratings. The stock has a market capitalization of $419.58 million, a price-to-earnings ratio of 24.21 and a beta of 0.20. Citi Trends has a twelve month low of $17.43 and a twelve month high of $32.49.
Citi Trends declared that its board has authorized a share buyback plan on Friday, March 16th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
CTRN has been the topic of several analyst reports. BidaskClub cut shares of Citi Trends from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 9th. ValuEngine upgraded shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Wednesday, May 16th. Finally, MKM Partners upgraded shares of Citi Trends from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $32.00 in a research note on Tuesday, March 20th.
Citi Trends Company Profile
Citi Trends, Inc operates as an off-price retailer of urban fashion apparel and accessories. The company offers apparel comprising fashion sportswear for men, women, and children, as well as offerings for newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and decorative home products, functional home products, beauty products, books, toys, and electronic accessories.
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