Carter’s (NYSE:CRI) Updates Q2 2024 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.350-0.450 for the period, compared to the consensus EPS estimate of 0.800. The company issued revenue guidance of $560.0 million-$570.0 million, compared to the consensus revenue estimate of $613.0 million. Carter’s also updated its FY 2024 guidance to EPS.

Carter’s Stock Performance

CRI opened at $70.01 on Monday. The stock has a market cap of $2.57 billion, a PE ratio of 11.04, a P/E/G ratio of 2.11 and a beta of 1.29. Carter’s has a 1 year low of $60.65 and a 1 year high of $88.03. The stock’s 50 day simple moving average is $79.73 and its 200-day simple moving average is $74.89. The company has a current ratio of 2.43, a quick ratio of 1.30 and a debt-to-equity ratio of 0.59.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.24. The firm had revenue of $858.00 million for the quarter, compared to analyst estimates of $867.81 million. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. Sell-side analysts forecast that Carter’s will post 6.3 EPS for the current year.

Carter’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 11th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.57%. This is an increase from Carter’s’s previous quarterly dividend of $0.75. Carter’s’s payout ratio is presently 50.47%.

Analyst Ratings Changes

CRI has been the subject of several research analyst reports. Wedbush boosted their price target on shares of Carter’s from $67.00 to $78.00 and gave the company a neutral rating in a report on Friday, February 23rd. StockNews.com lowered Carter’s from a buy rating to a hold rating in a research report on Wednesday, April 10th. Evercore ISI raised their target price on shares of Carter’s from $70.00 to $80.00 and gave the stock an in-line rating in a report on Wednesday, February 28th. UBS Group increased their price objective on shares of Carter’s from $76.00 to $79.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company reduced their target price on shares of Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $73.80.

Insider Buying and Selling at Carter’s

In other Carter’s news, Director Mark Hipp sold 1,875 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $81.74, for a total transaction of $153,262.50. Following the sale, the director now directly owns 10,216 shares in the company, valued at $835,055.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.30% of the company’s stock.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.