Citi Trends Inc. (NASDAQ:CTRN) announced its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.09. Citi Trends had a net margin of 1.86% and a return on equity of 5.64%. The company earned $160.70 million during the quarter, compared to analysts’ expectations of $167.45 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year.

Shares of Citi Trends (NASDAQ:CTRN) opened at 19.15 on Wednesday. The company has a 50 day moving average price of $20.11 and a 200-day moving average price of $18.13. Citi Trends has a 1-year low of $14.01 and a 1-year high of $22.73. The stock has a market capitalization of $281.03 million, a P/E ratio of 22.22 and a beta of 0.34.

Earnings History for Citi Trends (NASDAQ:CTRN)

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 29th will be paid a $0.06 dividend. The ex-dividend date is Friday, November 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.25%. Citi Trends’s dividend payout ratio (DPR) is presently 27.59%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Citi Trends during the first quarter worth approximately $633,000. Panagora Asset Management Inc. increased its position in shares of Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock worth $3,593,000 after buying an additional 12,577 shares in the last quarter. Nantahala Capital Management LLC increased its position in shares of Citi Trends by 31.5% in the first quarter. Nantahala Capital Management LLC now owns 1,002,603 shares of the company’s stock worth $17,876,000 after buying an additional 240,194 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Citi Trends during the second quarter worth approximately $244,000. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Citi Trends during the second quarter worth approximately $203,000. 94.86% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on CTRN. Zacks Investment Research downgraded Citi Trends from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. TheStreet upgraded Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, September 19th. Finally, MKM Partners reiterated a “neutral” rating and issued a $16.00 target price on shares of Citi Trends in a research note on Wednesday, August 17th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.50.

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About Citi Trends

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.

5 Day Chart for NASDAQ:CTRN

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