Zacks: Analysts Anticipate Carter’s, Inc. (CRI) Will Announce Earnings of $1.66 Per Share
Equities research analysts expect Carter’s, Inc. (NYSE:CRI) to post earnings per share of $1.66 for the current quarter, according to Zacks. Three analysts have made estimates for Carter’s’ earnings, with the lowest EPS estimate coming in at $1.63 and the highest estimate coming in at $1.70. Carter’s reported earnings per share of $1.61 in the same quarter last year, which indicates a positive year over year growth rate of 3.1%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, October 26th.
On average, analysts expect that Carter’s will report full year earnings of $5.62 per share for the current fiscal year, with EPS estimates ranging from $5.58 to $5.70. For the next financial year, analysts anticipate that the business will report earnings of $6.19 per share, with EPS estimates ranging from $6.00 to $6.45. Zacks’ EPS averages are an average based on a survey of research analysts that cover Carter’s.
Carter’s (NYSE:CRI) last posted its quarterly earnings results on Thursday, July 27th. The textile maker reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. Carter’s had a net margin of 7.74% and a return on equity of 33.18%. The business had revenue of $692.10 million for the quarter, compared to analysts’ expectations of $681.08 million. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis.
A number of equities research analysts recently weighed in on the stock. BidaskClub cut shares of Carter’s from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Carter’s from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Tuesday, September 26th. FBR & Co restated a “buy” rating on shares of Carter’s in a research note on Thursday, July 13th. Cowen and Company set a $92.00 price objective on shares of Carter’s and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, Macquarie started coverage on Carter’s in a report on Tuesday, August 29th. They set an “outperform” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Carter’s currently has a consensus rating of “Buy” and an average target price of $103.45.
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Shares of Carter’s (CRI) traded up 0.14% during midday trading on Thursday, reaching $93.73. 642,836 shares of the company were exchanged. The company has a market capitalization of $4.48 billion, a PE ratio of 18.38 and a beta of 0.34. The firm’s 50 day moving average is $93.74 and its 200-day moving average is $89.15. Carter’s has a 52-week low of $77.94 and a 52-week high of $99.75.
In related news, Director Paul Fulton sold 8,643 shares of Carter’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $87.58, for a total value of $756,953.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas E. Whiddon sold 17,500 shares of Carter’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $90.35, for a total value of $1,581,125.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. purchased a new position in Carter’s in the 2nd quarter worth about $118,000. Advisory Services Network LLC purchased a new position in Carter’s in the 2nd quarter worth about $125,000. Mountain Capital Investment Advisors Inc purchased a new position in Carter’s in the 2nd quarter worth about $128,000. PNC Financial Services Group Inc. increased its stake in Carter’s by 2.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,704 shares of the textile maker’s stock worth $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% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,751 shares of the textile maker’s stock worth $156,000 after purchasing an additional 124 shares in the last quarter. 97.10% of the stock is currently owned by hedge funds and other institutional investors.
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 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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