Carter’s (NYSE:CRI) Releases Q2 2024 Earnings Guidance

Carter’s (NYSE:CRI) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.350-0.450 for the period, compared to the consensus earnings per share estimate of 0.800. The company issued revenue guidance of $560.0 million-$570.0 million, compared to the consensus revenue estimate of $613.0 million. Carter’s also updated its FY 2024 guidance to EPS.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wedbush lifted their price objective on shares of Carter’s from $67.00 to $78.00 and gave the company a neutral rating in a report on Friday, February 23rd. Wells Fargo & Company lowered their price target on shares of Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a report on Wednesday. Monness Crespi & Hardt cut shares of Carter’s from a buy rating to a neutral rating in a report on Monday, February 26th. UBS Group boosted their price target on shares of Carter’s from $76.00 to $79.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, Evercore ISI boosted their price target on shares of Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $73.80.

Carter’s Stock Performance

Carter’s stock traded down $1.55 during trading hours on Friday, reaching $70.01. 1,722,308 shares of the stock were exchanged, compared to its average volume of 775,948. The stock has a market cap of $2.57 billion, a P/E ratio of 11.04, a P/E/G ratio of 2.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.10 and a current ratio of 2.15. Carter’s has a 52-week low of $60.65 and a 52-week high of $88.03. The firm’s 50 day moving average is $79.73 and its 200 day moving average is $74.83.

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

Carter’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.57%. This is a boost from Carter’s’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 8th. Carter’s’s dividend payout ratio is presently 50.47%.

Insider Activity at Carter’s

In related news, Director Mark Hipp sold 1,875 shares of the stock in a transaction dated Wednesday, March 6th. The shares were 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 approximately $835,055.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by corporate insiders.

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.