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

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

Shares of NYSE:CRI opened at $70.01 on Friday. The company has a 50-day moving average price of $79.73 and a two-hundred day moving average price of $74.77. Carter’s has a twelve month low of $60.65 and a twelve month 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. The firm has a market capitalization of $2.57 billion, a PE ratio of 11.17, a P/E/G ratio of 2.09 and a beta of 1.29.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, beating the consensus estimate of $2.52 by $0.24. Carter’s had a net margin of 7.89% and a return on equity of 28.79%. The company had revenue of $858.00 million during the quarter, compared to analysts’ expectations of $867.81 million. During the same quarter in the previous year, the company earned $2.29 earnings per share. Carter’s’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts forecast that Carter’s will post 6.52 EPS for the current year.

Carter’s Increases Dividend

The company also recently announced 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 of this dividend was Friday, March 8th. This represents a $3.20 annualized dividend and a yield of 4.57%. This is a positive change from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s dividend payout ratio is currently 51.04%.

Wall Street Analyst Weigh In

CRI has been the subject of a number of recent analyst reports. 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. Wedbush lifted their price objective on Carter’s from $67.00 to $78.00 and gave the stock a neutral rating in a research report on Friday, February 23rd. StockNews.com downgraded shares of Carter’s from a buy rating to a hold rating in a research report on Wednesday, April 10th. Citigroup lowered their price objective on shares of Carter’s from $66.00 to $64.00 and set a sell rating for the company in a report on Thursday, April 18th. Finally, UBS Group upped their price target on Carter’s from $76.00 to $79.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Carter’s currently has an average rating of Hold and a consensus target price of $73.80.

Insider Buying and Selling at Carter’s

In related news, Director Mark Hipp sold 1,875 shares of the business’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 sale, the director now directly owns 10,216 shares in the company, valued at $835,055.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.