$948.15 Million in Sales Expected for Carter’s, Inc. (CRI) This Quarter
Brokerages expect Carter’s, Inc. (NYSE:CRI) to post sales of $948.15 million for the current quarter, Zacks reports. Three analysts have made estimates for Carter’s’ earnings, with the highest sales estimate coming in at $950.00 million and the lowest estimate coming in at $945.30 million. Carter’s reported sales of $901.43 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The business is expected to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Carter’s will report full year sales of $948.15 million for the current financial year, with estimates ranging from $3.38 billion to $3.43 billion. For the next year, analysts anticipate that the firm will post sales of $3.55 billion per share, with estimates ranging from $3.49 billion to $3.64 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Carter’s.
Carter’s (NYSE:CRI) last posted its earnings results on Thursday, July 27th. The textile maker reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. The company had revenue of $692.10 million during the quarter, compared to the consensus estimate of $681.08 million. Carter’s had a net margin of 7.74% and a return on equity of 33.18%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share.
Several brokerages recently issued reports on CRI. Zacks Investment Research upgraded shares of Carter’s from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research note on Tuesday, September 26th. Bank of America Corporation began coverage on shares of Carter’s in a research note on Friday, September 15th. They issued a “buy” rating and a $106.00 price target for the company. Goldman Sachs Group, Inc. (The) began coverage on shares of Carter’s in a research note on Tuesday, September 5th. They issued a “buy” rating and a $105.00 price target for the company. BidaskClub upgraded shares of Carter’s from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, FBR & Co set a $111.00 price target on shares of Carter’s and gave the stock a “buy” rating in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Carter’s has an average rating of “Buy” and a consensus price target of $103.45.
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In other Carter’s news, Director Thomas E. Whiddon sold 17,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $90.35, for a total transaction of $1,581,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Fulton sold 8,643 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $87.58, for a total transaction of $756,953.94. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Carter’s during the 2nd quarter valued at about $118,000. Advisory Services Network LLC bought a new stake in Carter’s during the 2nd quarter valued at about $125,000. Mountain Capital Investment Advisors Inc bought a new stake in Carter’s during the 2nd quarter valued at about $128,000. PNC Financial Services Group Inc. increased its stake in Carter’s by 2.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,704 shares of the textile maker’s stock valued at $151,000 after purchasing an additional 35 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Carter’s by 7.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,751 shares of the textile maker’s stock valued at $156,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 97.10% of the company’s stock.
Carter’s (NYSE:CRI) traded down 1.29% during midday trading on Monday, hitting $95.90. 1,110,942 shares of the stock traded hands. The stock’s 50-day moving average price is $91.28 and its 200-day moving average price is $88.85. The stock has a market capitalization of $4.59 billion, a P/E ratio of 18.81 and a beta of 0.34. Carter’s has a 52 week low of $77.94 and a 52 week high of $99.75.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 29th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, August 25th. This represents a $1.48 dividend on an annualized basis and a yield of 1.54%. Carter’s’s dividend payout ratio is currently 29.08%.
Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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