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

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com cut Carter’s from a buy rating to a hold rating in a research note on Wednesday, April 10th. Citigroup decreased their price target on Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a research note on Thursday, April 18th. Wedbush boosted their target price on Carter’s from $67.00 to $78.00 and gave the company a neutral rating in a research note on Friday, February 23rd. Wells Fargo & Company reduced their target price 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, Monness Crespi & Hardt cut Carter’s from a buy rating to a neutral rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Carter’s has a consensus rating of Hold and a consensus price target of $73.80.

Carter’s Price Performance

Shares of CRI stock opened at $70.01 on Friday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 2.04 and a beta of 1.29. The business’s fifty day moving average is $79.73 and its 200 day moving average is $74.83. Carter’s has a twelve month low of $60.65 and a twelve month high of $88.03. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.59.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.24. The company had revenue of $858.00 million for the quarter, compared to analysts’ expectations of $867.81 million. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 earnings per share. Research analysts expect that Carter’s will post 6.3 EPS for the current fiscal year.

Carter’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a $0.80 dividend. 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. The ex-dividend date was Friday, March 8th. Carter’s’s payout ratio is 50.47%.

Insiders Place Their Bets

In other Carter’s news, Director Mark Hipp sold 1,875 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total value of $153,262.50. Following the sale, the director now directly owns 10,216 shares of the company’s stock, valued at $835,055.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.30% of the company’s stock.

About Carter’s

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.