Carter’s (NYSE:CRI) Issues Q3 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its third quarter earnings guidance on Friday morning. The company provided EPS guidance of $1.10-1.35 for the period, compared to the consensus EPS estimate of $1.89. The company issued revenue guidance of $735-755 million, compared to the consensus revenue estimate of $807.83 million. Carter’s also updated its FY 2024 guidance to 4.600-5.050 EPS.

Carter’s Price Performance

NYSE:CRI traded down $2.55 on Friday, reaching $57.26. The stock had a trading volume of 4,768,258 shares, compared to its average volume of 919,259. The company has a market capitalization of $2.09 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.22. Carter’s has a 1-year low of $54.74 and a 1-year high of $88.03. The company has a quick ratio of 1.30, a current ratio of 2.43 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $63.90 and a 200-day moving average price of $72.49.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. The company had revenue of $564.43 million during the quarter, compared to the consensus estimate of $566.79 million. Research analysts forecast that Carter’s will post 6.3 EPS for the current year.

Carter’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 28th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date was Friday, May 24th. Carter’s’s dividend payout ratio is presently 50.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Carter’s from a buy rating to a hold rating in a research note on Wednesday, April 10th. Citigroup dropped their price target on shares of Carter’s from $66.00 to $64.00 and set a sell rating for the company in a research note on Thursday, April 18th. Finally, Wells Fargo & Company dropped 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 research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $73.80.

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.