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

Carter’s (NYSE:CRI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.700-5.150 for the period, compared to the consensus EPS estimate of 5.040. 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.

Carter’s Stock Performance

CRI traded down $8.74 during midday trading on Friday, reaching $56.95. The company’s stock had a trading volume of 4,843,069 shares, compared to its average volume of 938,658. Carter’s has a twelve month low of $54.74 and a twelve month high of $88.03. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.08 billion, a P/E ratio of 8.98, a PEG ratio of 3.86 and a beta of 1.23. The company has a fifty day simple moving average of $66.18 and a 200 day simple moving average of $65.79.

Carter’s (NYSE:CRI) last released its earnings results on Friday, October 25th. The textile maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.35. The business had revenue of $758.46 million during the quarter, compared to analysts’ expectations of $747.95 million. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. Research analysts expect that Carter’s will post 4.87 earnings per share for the current year.

Carter’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.62%. Carter’s’s payout ratio is presently 50.47%.

Analysts Set New Price Targets

CRI has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company boosted their price target on Carter’s from $60.00 to $72.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.17.

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.