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

Carter’s (NYSE:CRI) updated its FY 2024 earnings guidance on Friday. 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 Price Performance

NYSE:CRI traded down $8.74 during trading hours on Friday, reaching $56.95. 4,843,069 shares of the company’s stock were exchanged, compared to its average volume of 938,658. The company has a market capitalization of $2.08 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 3.86 and a beta of 1.23. Carter’s has a 12 month low of $54.74 and a 12 month high of $88.03. The business’s 50-day simple moving average is $66.18 and its two-hundred day simple moving average is $65.86. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.61.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, October 25th. The textile maker reported $1.64 EPS 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 the consensus estimate of $747.95 million. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. Sell-side analysts expect that Carter’s will post 4.87 EPS for the current fiscal year.

Carter’s Announces Dividend

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

Wall Street Analyst Weigh In

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