Brokerages expect Carter’s, Inc. (NYSE:CRI) to post $684.12 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Carter’s’ earnings. The highest sales estimate is $689.50 million and the lowest is $680.20 million. Carter’s reported sales of $692.12 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The company is expected to report its next earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Carter’s will report full-year sales of $3.48 billion for the current fiscal year, with estimates ranging from $3.47 billion to $3.50 billion. For the next financial year, analysts forecast that the firm will post sales of $3.60 billion per share, with estimates ranging from $3.56 billion to $3.62 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Carter’s.
Carter’s (NYSE:CRI) last released its earnings results on Thursday, April 26th. The textile maker reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.11. The firm had revenue of $755.79 million for the quarter, compared to the consensus estimate of $744.23 million. Carter’s had a return on equity of 35.09% and a net margin of 8.72%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.
Carter’s stock traded down $1.14 during mid-day trading on Friday, hitting $110.26. The company’s stock had a trading volume of 571,257 shares, compared to its average volume of 839,633. The company has a market capitalization of $5.20 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.88 and a beta of 0.42. The company has a quick ratio of 2.02, a current ratio of 4.14 and a debt-to-equity ratio of 0.72. Carter’s has a one year low of $83.84 and a one year high of $129.00.
Carter’s declared that its board has initiated a share repurchase program on Tuesday, February 27th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the textile maker to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, May 29th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, May 25th. Carter’s’s payout ratio is 31.25%.
In other news, EVP Kevin Doyle Corning sold 3,491 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $108.51, for a total transaction of $378,808.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David Pulver purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were purchased at an average cost of $100.32 per share, for a total transaction of $300,960.00. Following the transaction, the director now directly owns 55,664 shares in the company, valued at approximately $5,584,212.48. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. HBK Investments L P lifted its stake in shares of Carter’s by 68.5% during the 4th quarter. HBK Investments L P now owns 10,865 shares of the textile maker’s stock worth $1,277,000 after purchasing an additional 4,417 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Carter’s during the 1st quarter worth $727,000. Sei Investments Co. lifted its stake in shares of Carter’s by 4.1% during the 4th quarter. Sei Investments Co. now owns 95,789 shares of the textile maker’s stock worth $11,255,000 after purchasing an additional 3,769 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Carter’s during the 1st quarter worth $1,502,000. Finally, Spark Investment Management LLC purchased a new stake in shares of Carter’s during the 4th quarter worth $3,759,000. 96.85% of the stock is currently owned by institutional investors and hedge funds.
Carter’s Company Profile
Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.
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