SunTrust Banks Analysts Reduce Earnings Estimates for Citi Trends Inc. (CTRN)
Citi Trends Inc. (NASDAQ:CTRN) – Equities research analysts at SunTrust Banks dropped their FY2017 EPS estimates for Citi Trends in a research report issued on Wednesday. SunTrust Banks analyst P. Quintiliano now expects that the brokerage will post earnings per share of $0.91 for the year, down from their previous forecast of $1.00. SunTrust Banks also issued estimates for Citi Trends’ Q4 2017 earnings at $0.37 EPS and FY2018 earnings at $1.21 EPS.
Citi Trends (NASDAQ:CTRN) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. Citi Trends had a net margin of 1.64% and a return on equity of 5.27%. The firm earned $160.70 million during the quarter, compared to analyst estimates of $167.45 million. During the same period in the prior year, the company earned $0.04 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year.
A number of other research firms have also commented on CTRN. TheStreet raised Citi Trends from a “hold” rating to a “buy” rating in a research report on Monday, September 19th. MKM Partners reiterated a “neutral” rating and set a $16.00 target price on shares of Citi Trends in a report on Wednesday, August 17th. Finally, Zacks Investment Research downgraded Citi Trends from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.50.
Citi Trends (NASDAQ:CTRN) traded down 0.17% during mid-day trading on Monday, hitting $17.97. The stock had a trading volume of 16,138 shares. Citi Trends has a 52 week low of $14.01 and a 52 week high of $22.73. The company’s 50 day moving average is $20.04 and its 200-day moving average is $18.18. The stock has a market capitalization of $263.75 million, a P/E ratio of 23.40 and a beta of 0.34.
The business 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 annualized dividend and a dividend yield of 1.31%. Citi Trends’s payout ratio is currently 31.17%.
Several hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in Citi Trends during the first quarter valued at $633,000. Panagora Asset Management Inc. increased its stake in Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock valued at $3,593,000 after buying an additional 12,577 shares during the last quarter. Bank of Montreal Can bought a new stake in Citi Trends during the second quarter valued at $244,000. Stoneridge Investment Partners LLC bought a new stake in Citi Trends during the second quarter valued at $203,000. Finally, Northpointe Capital LLC increased its stake in Citi Trends by 7.9% in the second quarter. Northpointe Capital LLC now owns 175,070 shares of the company’s stock valued at $2,719,000 after buying an additional 12,875 shares during the last quarter. Institutional investors own 93.07% of the company’s stock.
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.
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