Carter’s, Inc. Announces Quarterly Dividend of $0.80 (NYSE:CRI)

Carter’s, Inc. (NYSE:CRI) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be paid a dividend of 0.80 per share by the textile maker on Friday, March 28th. This represents a $3.20 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date is Monday, March 10th.

Carter’s has raised its dividend payment by an average of 31.7% per year over the last three years. Carter’s has a payout ratio of 61.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Carter’s to earn $4.77 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 67.1%.

Carter’s Stock Down 3.2 %

CRI traded down $1.41 during trading hours on Wednesday, hitting $42.26. 2,249,504 shares of the company’s stock were exchanged, compared to its average volume of 1,063,931. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 3.37 and a beta of 1.21. The stock’s 50-day moving average is $53.10 and its two-hundred day moving average is $58.37. Carter’s has a 1-year low of $42.27 and a 1-year high of $88.03. The company has a quick ratio of 0.96, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.52. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The business had revenue of $859.70 million during the quarter, compared to analysts’ expectations of $835.82 million. During the same period last year, the firm posted $2.76 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts predict that Carter’s will post 5.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRI has been the topic of a number of research analyst reports. UBS Group reduced their price target on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup lowered their target price on Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.20.

Carter’s Company Profile

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.