Citi Trends (NASDAQ:CTRN) Releases FY 2022 Earnings Guidance

Citi Trends (NASDAQ:CTRNGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.25-$2.75 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of $860.00 million-$880.00 million, compared to the consensus revenue estimate of $914.83 million.

Shares of Citi Trends stock traded up $2.45 during trading on Tuesday, reaching $28.18. 1,992,120 shares of the company’s stock were exchanged, compared to its average volume of 548,519. The company has a market cap of $244.29 million, a P/E ratio of 4.33 and a beta of 2.01. Citi Trends has a 1-year low of $21.70 and a 1-year high of $97.46. The firm’s 50-day moving average price is $30.99 and its 200 day moving average price is $52.27.

Citi Trends (NASDAQ:CTRNGet Rating) last released its quarterly earnings results on Tuesday, March 15th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. Citi Trends had a return on equity of 48.27% and a net margin of 6.28%. The firm had revenue of $240.97 million for the quarter, compared to analyst estimates of $241.80 million. During the same quarter in the previous year, the company posted $1.81 EPS. As a group, sell-side analysts anticipate that Citi Trends will post 4.45 EPS for the current fiscal year.

Several equities analysts have weighed in on CTRN shares. Zacks Investment Research raised Citi Trends from a strong sell rating to a hold rating in a report on Tuesday, May 17th. Telsey Advisory Group cut their price target on Citi Trends from $100.00 to $65.00 and set an outperform rating for the company in a report on Wednesday, March 9th. TheStreet lowered Citi Trends from a b- rating to a c+ rating in a report on Thursday, February 17th. Gordon Haskett lowered Citi Trends from a buy rating to an accumulate rating and cut their price target for the stock from $90.00 to $60.00 in a report on Thursday, February 10th. Finally, StockNews.com started coverage on Citi Trends in a report on Thursday, March 31st. They issued a hold rating for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Citi Trends currently has an average rating of Buy and an average target price of $62.00.

In related news, SVP Jessica Berkowitz sold 1,815 shares of the firm’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $31.95, for a total transaction of $57,989.25. Following the completion of the transaction, the senior vice president now owns 5,446 shares of the company’s stock, valued at $173,999.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd raised its position in Citi Trends by 430.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,727 shares of the company’s stock worth $84,000 after buying an additional 2,213 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Citi Trends by 45.4% during the 1st quarter. MetLife Investment Management LLC now owns 5,006 shares of the company’s stock worth $153,000 after purchasing an additional 1,564 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Citi Trends during the 1st quarter worth about $164,000. Mariner LLC acquired a new stake in shares of Citi Trends during the 1st quarter worth about $308,000. Finally, Ancora Advisors LLC boosted its stake in shares of Citi Trends by 188.2% during the 1st quarter. Ancora Advisors LLC now owns 4,098 shares of the company’s stock worth $344,000 after purchasing an additional 2,676 shares during the last quarter.

Citi Trends Company Profile (Get Rating)

Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.

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