Carter’s (NYSE:CRI) Updates FY 2024 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.700-5.150 for the period, compared to the consensus EPS estimate of 5.310. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. Carter’s also updated its Q4 guidance to 1.32-1.72 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRI. Citigroup upgraded Carter’s from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on shares of Carter’s from $72.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, Carter’s presently has a consensus rating of “Hold” and an average price target of $67.67.

Carter’s Price Performance

CRI stock opened at $51.79 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $54.30 and its 200 day simple moving average is $60.57. Carter’s has a 12-month low of $50.27 and a 12-month high of $88.03. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 3.28 and a beta of 1.22.

Carter’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 25th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $3.20 annualized dividend and a yield of 6.18%. Carter’s’s payout ratio is 50.79%.

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.