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

Carter’s (NYSE:CRI) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.350-0.450 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Monness Crespi & Hardt downgraded shares of Carter’s from a buy rating to a neutral rating in a research report on Monday, February 26th. Wells Fargo & Company cut their target price on Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a research note on Wednesday. UBS Group raised their target price on Carter’s from $76.00 to $79.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. 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 research note on Friday, February 23rd. Finally, StockNews.com cut shares of Carter’s from a buy rating to a hold rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Carter’s has a consensus rating of Hold and an average target price of $73.80.

Carter’s Price Performance

NYSE:CRI opened at $71.57 on Friday. The business’s 50-day moving average price is $79.96 and its 200 day moving average price is $74.74. The firm has a market cap of $2.62 billion, a P/E ratio of 11.41, a PEG ratio of 2.12 and a beta of 1.29. Carter’s has a 52-week low of $60.65 and a 52-week high of $88.03. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.59.

Carter’s (NYSE:CRI) last released its earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.24. The firm had revenue of $858.00 million for the quarter, compared to analyst estimates of $867.81 million. Carter’s had a return on equity of 28.79% and a net margin of 7.89%. Carter’s’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.29 earnings per share. As a group, sell-side analysts predict that Carter’s will post 6.52 earnings per share for the current fiscal year.

Carter’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were paid a $0.80 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.20 dividend on an annualized basis and a yield of 4.47%. This is a boost from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s dividend payout ratio (DPR) is currently 51.04%.

Insider Buying and Selling

In related news, Director Mark Hipp sold 1,875 shares of Carter’s 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 owns 10,216 shares of the company’s stock, valued at approximately $835,055.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently owned by company 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.