Carter’s (NYSE:CRI) Updates FY24 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.65-5.00 for the period, compared to the consensus earnings per share estimate of $6.23. The company issued revenue guidance of $2.785-2.825 billion, compared to the consensus revenue estimate of $2.93 billion. Carter’s also updated its FY 2024 guidance to 4.600-5.050 EPS.

Carter’s Stock Performance

CRI traded down $2.55 during trading hours on Friday, hitting $57.26. 4,768,258 shares of the stock were exchanged, compared to its average volume of 919,259. The stock has a 50-day simple moving average of $63.90 and a 200-day simple moving average of $72.49. Carter’s has a 12 month low of $54.74 and a 12 month high of $88.03. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.30.

Carter’s (NYSE:CRI) last posted its 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. The company had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Carter’s had a return on equity of 28.55% and a net margin of 8.06%. Analysts anticipate that Carter’s will post 6.3 earnings per share for the current year.

Carter’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 28th were paid 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 was Friday, May 24th. Carter’s’s dividend payout ratio is currently 50.47%.

Analyst Upgrades and Downgrades

CRI has been the topic of a number of analyst reports. Citigroup dropped their price target on Carter’s from $66.00 to $64.00 and set a sell rating on the stock in a research note 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 dropped their price target on Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Carter’s has a consensus rating of Hold and an average price target of $73.80.

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.