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

Carter’s (NYSE:CRI) issued an update on its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.600-5.050 for the period, compared to the consensus earnings per share estimate of 6.200. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.9 billion. Carter’s also updated its FY24 guidance to $4.65-5.00 EPS.

Analysts Set New Price Targets

Several equities analysts recently commented on CRI shares. Citigroup cut their price target on shares of Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a report on Thursday, April 18th. StockNews.com cut Carter’s from a buy rating to a hold rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price target on Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $73.80.

Carter’s Trading Down 4.3 %

Carter’s stock traded down $2.55 during trading hours on Friday, hitting $57.26. The company had a trading volume of 4,768,258 shares, compared to its average volume of 919,259. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.30 and a current ratio of 2.43. The firm has a market cap of $2.09 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.94 and a beta of 1.22. The company has a 50-day moving average price of $63.90 and a two-hundred day moving average price of $72.51. Carter’s has a 1 year low of $54.74 and a 1 year high of $88.03.

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

Carter’s Dividend Announcement

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

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.