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

Carter’s, Inc. (NYSE:CRI) declared a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Investors of record on Tuesday, August 27th will be paid a dividend of 0.80 per share by the textile maker on Friday, September 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Tuesday, August 27th.

Carter’s has raised its dividend by an average of 71.0% annually over the last three years. Carter’s has a payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Carter’s to earn $5.44 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 58.8%.

Carter’s Stock Up 1.8 %

Shares of CRI opened at $66.27 on Friday. Carter’s has a 1 year low of $54.74 and a 1 year high of $88.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.09 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $62.24 and a two-hundred day simple moving average of $70.76. The firm has a market cap of $2.42 billion, a P/E ratio of 10.45, a P/E/G ratio of 3.71 and a beta of 1.22.

Carter’s (NYSE:CRI) last announced its quarterly earnings data 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 8.29% and a return on equity of 28.65%. The firm had revenue of $564.43 million during the quarter, compared to analyst estimates of $566.79 million. On average, analysts forecast that Carter’s will post 4.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America reduced their price objective on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Carter’s presently has an average rating of “Hold” and a consensus target price of $70.50.

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.