Citi Trends Inc. (CTRN) To Go Ex-Dividend on November 25th
Citi Trends Inc. (NASDAQ:CTRN) declared a quarterly dividend on Thursday, November 17th. Stockholders of record on Tuesday, November 29th will be paid a dividend of 0.06 per share on Tuesday, December 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, November 25th.
Citi Trends (NASDAQ:CTRN) opened at 21.30 on Friday. The stock has a market capitalization of $312.58 million, a P/E ratio of 24.71 and a beta of 0.34. Citi Trends has a one year low of $14.01 and a one year high of $24.41. The stock has a 50 day moving average price of $20.13 and a 200-day moving average price of $18.08.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Wednesday, August 17th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.05. The company earned $155.30 million during the quarter. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 earnings per share. Analysts anticipate that Citi Trends will post $1.00 earnings per share for the current year.
Several brokerages recently weighed in on CTRN. Zacks Investment Research upgraded Citi Trends from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, August 19th. MKM Partners reiterated a “neutral” rating and issued a $16.00 price objective on shares of Citi Trends in a research report on Wednesday, August 17th. Finally, TheStreet lowered Citi Trends from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Citi Trends currently has an average rating of “Hold” and an average price target of $18.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its position in Citi Trends by 9.5% in the third quarter. BlackRock Advisors LLC now owns 7,722 shares of the company’s stock worth $154,000 after buying an additional 670 shares during the period. Citadel Advisors LLC bought a new stake in shares of Citi Trends during the third quarter valued at about $202,000. The Manufacturers Life Insurance Company bought a new stake in shares of Citi Trends during the third quarter valued at about $215,000. KCG Holdings Inc. bought a new stake in shares of Citi Trends during the second quarter valued at about $234,000. Finally, TFS Capital LLC boosted its stake in shares of Citi Trends by 12.7% in the second quarter. TFS Capital LLC now owns 19,738 shares of the company’s stock valued at $307,000 after buying an additional 2,232 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.
Citi Trends Company Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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