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

Carter’s (NYSE:CRI) issued an update on its second quarter earnings guidance on Friday morning. 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.

Carter’s Trading Down 2.2 %

Shares of NYSE CRI opened at $70.01 on Friday. 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 stock has a market capitalization of $2.57 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 2.04 and a beta of 1.29. Carter’s has a 1-year low of $60.65 and a 1-year high of $88.03. The business has a fifty day moving average price of $79.73 and a 200 day moving average price of $74.83.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.24. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. The company had revenue of $858.00 million during the quarter, compared to analysts’ expectations of $867.81 million. During the same period last year, the business posted $2.29 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Carter’s will post 6.3 EPS for the current fiscal 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 a boost from Carter’s’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 4.57%. Carter’s’s dividend payout ratio (DPR) is 50.47%.

Analysts Set New Price Targets

CRI has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday. UBS Group increased their price target on Carter’s from $76.00 to $79.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. StockNews.com cut Carter’s from a buy rating to a hold rating in a research note on Wednesday, April 10th. Evercore ISI increased their price objective on Carter’s from $70.00 to $80.00 and gave the company an in-line rating in a report on Wednesday, February 28th. Finally, Citigroup cut their price objective on Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $73.80.

Insider Activity

In other news, Director Mark Hipp sold 1,875 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total value of $153,262.50. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

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.