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

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRI. Evercore ISI increased their price target on Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a research note on Wednesday, February 28th. Wedbush raised their target price on Carter’s from $67.00 to $78.00 and gave the stock a neutral rating in a research note on Friday, February 23rd. Wells Fargo & Company cut their target price on Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, April 24th. UBS Group raised their target price on Carter’s from $76.00 to $79.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Finally, Monness Crespi & Hardt downgraded Carter’s from a buy rating to a neutral rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $73.80.

Carter’s Stock Performance

Shares of CRI opened at $70.01 on Monday. The company has a market cap of $2.57 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.29. The company has a current ratio of 2.43, a quick ratio of 1.30 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $79.73 and a 200-day moving average price of $74.89. Carter’s has a 12-month low of $60.65 and a 12-month high of $88.03.

Carter’s (NYSE:CRI) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.24. The firm had revenue of $858.00 million during the quarter, compared to the consensus estimate of $867.81 million. Carter’s had a return on equity of 28.55% and a net margin of 8.06%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $2.29 EPS. As a group, equities analysts forecast that Carter’s will post 6.3 earnings per share for the current fiscal year.

Carter’s Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend 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 (DPR) is currently 50.47%.

Insider Activity at Carter’s

In related news, Director Mark Hipp sold 1,875 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total transaction of $153,262.50. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by 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.