Credit Agricole SA Weighs in on Carter’s Inc.’s Q3 2016 Earnings (CRI)
Carter’s Inc. (NYSE:CRI) – Research analysts at Credit Agricole SA issued their Q3 2016 EPS estimates for Carter’s in a report released on Wednesday. Credit Agricole SA analyst R. Patel expects that the brokerage will post earnings per share of $1.67 for the quarter. Credit Agricole SA has a “Underperform” rating and a $95.00 price target on the stock. Credit Agricole SA also issued estimates for Carter’s’ Q4 2016 earnings at $1.65 EPS, FY2016 earnings at $5.07 EPS, FY2017 earnings at $5.56 EPS and FY2018 earnings at $6.05 EPS.
Carter’s (NYSE:CRI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.06. The business had revenue of $639 million for the quarter, compared to analysts’ expectations of $636.86 million. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share.
Other equities analysts have also recently issued reports about the stock. FBR & Co reissued a “buy” rating and issued a $111.00 price objective on shares of Carter’s in a research note on Friday, September 16th. Monness Crespi & Hardt raised shares of Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Monday, August 8th. Zacks Investment Research cut shares of Carter’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 29th. Wells Fargo & Co. cut shares of Carter’s from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $111.00 to $93.00 in a research note on Tuesday, September 27th. Finally, Cowen and Company initiated coverage on shares of Carter’s in a research note on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $109.00.
Shares of Carter’s (NYSE:CRI) opened at 87.83 on Monday. The stock has a market cap of $4.40 billion, a PE ratio of 18.88 and a beta of 0.67. Carter’s has a one year low of $82.22 and a one year high of $112.58. The firm has a 50-day moving average of $95.28 and a 200-day moving average of $101.64.
A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Carter’s during the fourth quarter worth $41,277,000. Fiera Capital Corp raised its stake in shares of Carter’s by 1,417.3% in the second quarter. Fiera Capital Corp now owns 480,981 shares of the company’s stock worth $51,210,000 after buying an additional 449,281 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Carter’s during the second quarter worth $36,434,000. Thrivent Financial for Lutherans raised its stake in shares of Carter’s by 4,167.5% in the second quarter. Thrivent Financial for Lutherans now owns 283,360 shares of the company’s stock worth $30,170,000 after buying an additional 276,720 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Carter’s during the second quarter worth $29,457,000. Institutional investors own 90.76% of the company’s stock.
In related news, CFO Richard F. Westenberger sold 2,500 shares of Carter’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $101.00, for a total transaction of $252,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 26th. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. Carter’s’s payout ratio is 28.39%.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International. Its international segment includes Company-operated retail stores, wholesale and online operations in addition to royalty income from its international licensees.
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