Carter's, Inc. (NYSE:CRI) – Oppenheimer increased their FY2018 earnings estimates for shares of Carter's in a report released on Wednesday, Zacks Investment Research reports. Oppenheimer analyst A. Andreeva now expects that the textile maker will post earnings of $6.88 per share for the year, up from their previous estimate of $6.28. Oppenheimer currently has a “Outperform” rating and a $135.00 price target on the stock.
Carter's (NYSE:CRI) last posted its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.12. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Carter's had a net margin of 8.90% and a return on equity of 35.46%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 earnings per share.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Carter's from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo & Co upgraded shares of Carter's from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Citigroup raised their price objective on shares of Carter's from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. SunTrust Banks began coverage on shares of Carter's in a research report on Wednesday, December 27th. They issued a “hold” rating and a $126.00 price objective for the company. Finally, ValuEngine raised shares of Carter's from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $120.77.
Shares of Carter's (CRI) traded up $0.87 during trading hours on Monday, reaching $112.65. 805,667 shares of the company’s stock were exchanged, compared to its average volume of 734,550. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.10 and a quick ratio of 1.43. The company has a market capitalization of $5,330.00, a price-to-earnings ratio of 20.74, a PEG ratio of 1.73 and a beta of 0.35. Carter's has a 12-month low of $79.76 and a 12-month high of $129.00.
Carter's announced that its Board of Directors has approved a share buyback plan on Tuesday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the textile maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 12th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.60%. This is an increase from Carter's’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, March 9th. Carter's’s payout ratio is presently 33.15%.
In related news, insider Brian Lynch sold 26,500 shares of Carter's stock in a transaction on Monday, March 5th. The shares were sold at an average price of $116.12, for a total value of $3,077,180.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Greg Foglesong sold 6,000 shares of Carter's stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $117.98, for a total transaction of $707,880.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Norris Perne & French LLP MI boosted its holdings in shares of Carter's by 3.1% during the 3rd quarter. Norris Perne & French LLP MI now owns 56,853 shares of the textile maker’s stock valued at $5,614,000 after buying an additional 1,722 shares in the last quarter. Strategic Global Advisors LLC bought a new stake in shares of Carter's during the 3rd quarter valued at $287,000. Rhumbline Advisers boosted its holdings in shares of Carter's by 12.5% during the 3rd quarter. Rhumbline Advisers now owns 106,540 shares of the textile maker’s stock valued at $10,521,000 after buying an additional 11,836 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Carter's during the 3rd quarter valued at $366,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of Carter's during the 3rd quarter valued at $415,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.
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Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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