Carter’s (NYSE:CRI) Issues Q3 Earnings Guidance

Carter’s (NYSE:CRI) updated its third quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.10-1.35 for the period, compared to the consensus estimate of $1.89. The company issued revenue guidance of $735-755 million, compared to the consensus revenue estimate of $807.83 million. Carter’s also updated its FY 2024 guidance to 4.600-5.050 EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRI. Wells Fargo & Company decreased their price objective on Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday, April 24th. StockNews.com lowered shares of Carter’s from a buy rating to a hold rating in a report on Wednesday, April 10th. Finally, Citigroup reduced their price target 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. One 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 presently has a consensus rating of Hold and an average target price of $73.80.

Carter’s Price Performance

Shares of NYSE CRI traded down $2.55 during trading on Friday, reaching $57.26. The company had a trading volume of 4,768,258 shares, compared to its average volume of 919,259. Carter’s has a 52 week low of $54.74 and a 52 week high of $88.03. The business’s 50 day moving average price is $63.90 and its 200-day moving average price is $72.49. The stock has a market cap of $2.09 billion, a PE ratio of 9.03, a PEG ratio of 2.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.30 and a current ratio of 2.43.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. The business had revenue of $564.43 million during the quarter, compared to analyst estimates of $566.79 million. Analysts expect that Carter’s will post 4.83 earnings per share for the current year.

Carter’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 28th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend was Friday, May 24th. Carter’s’s dividend payout ratio is 50.47%.

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.