Q3 2016 EPS Estimates for Carter’s Inc. Boosted by Analyst (CRI)
Carter’s Inc. (NYSE:CRI) – Research analysts at FBR & Co lifted their Q3 2016 earnings per share (EPS) estimates for Carter’s in a note issued to investors on Wednesday. FBR & Co analyst S. Anderson now expects that the firm will post earnings per share of $1.67 for the quarter, up from their prior forecast of $1.66. FBR & Co currently has a “Buy” rating and a $111.00 target price on the stock. FBR & Co also issued estimates for Carter’s’ FY2016 earnings at $5.08 EPS.
Carter’s (NYSE:CRI) last posted its quarterly earnings results 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. Carter’s had a net margin of 7.86% and a return on equity of 29.33%. The firm had revenue of $639 million for the quarter, compared to the consensus estimate of $636.86 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year.
Other equities research analysts also recently issued research reports about the company. Monness Crespi & Hardt raised Carter’s from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Monday, August 8th. Zacks Investment Research downgraded Carter’s from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Cowen and Company started coverage on Carter’s in a report on Wednesday, July 13th. They issued a “market perform” rating and a $110.00 price objective for the company. Wells Fargo & Co. downgraded Carter’s from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $111.00 to $93.00 in a report on Tuesday, September 27th. Finally, Citigroup Inc. cut their price objective on Carter’s from $108.00 to $106.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Carter’s has a consensus rating of “Hold” and an average price target of $109.00.
Shares of Carter’s (NYSE:CRI) opened at 87.01 on Friday. Carter’s has a 52 week low of $82.22 and a 52 week high of $112.58. The stock has a 50 day moving average of $92.64 and a 200 day moving average of $100.84. The firm has a market cap of $4.36 billion, a P/E ratio of 18.70 and a beta of 0.66.
Several hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Carter’s by 25.2% in the second quarter. IFP Advisors Inc now owns 989 shares of the company’s stock valued at $105,000 after buying an additional 199 shares during the period. Quantbot Technologies LP bought a new stake in Carter’s during the second quarter valued at about $106,000. Genesee Valley Trust Co. bought a new stake in Carter’s during the second quarter valued at about $223,000. Advisor Group Inc. bought a new stake in Carter’s during the second quarter valued at about $224,000. Finally, Pacific Global Investment Management CO bought a new stake in Carter’s during the first quarter valued at about $226,000. 90.76% of the stock is currently owned by institutional investors.
In other Carter’s news, CFO Richard F. Westenberger sold 2,500 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $101.00, for a total transaction of $252,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.
Carter’s Company Profile
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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