Carter’s (NYSE:CRI) Releases FY 2024 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.700-5.150 for the period, compared to the consensus earnings per share estimate of 5.040. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. Carter’s also updated its Q4 guidance to 1.32-1.72 EPS.

Analysts Set New Price Targets

CRI has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company increased their price objective on shares of Carter’s from $60.00 to $72.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Carter’s has a consensus rating of “Hold” and an average target price of $71.17.

Carter’s Stock Performance

Shares of NYSE:CRI traded down $8.74 on Friday, reaching $56.95. 4,843,069 shares of the company’s stock were exchanged, compared to its average volume of 938,658. The business’s 50-day moving average is $66.18 and its two-hundred day moving average is $65.86. The company has a quick ratio of 0.95, a current ratio of 2.09 and a debt-to-equity ratio of 0.61. Carter’s has a fifty-two week low of $54.74 and a fifty-two week high of $88.03. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 3.86 and a beta of 1.23.

Carter’s (NYSE:CRI) last released its quarterly earnings data on Friday, October 25th. The textile maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.35. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. The firm had revenue of $758.46 million for the quarter, compared to analyst estimates of $747.95 million. As a group, equities research analysts forecast that Carter’s will post 4.87 EPS for the current year.

Carter’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Tuesday, August 27th. Carter’s’s dividend payout ratio is currently 50.47%.

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.