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

Carter’s (NYSE:CRI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 4.600-5.050 for the period, compared to the consensus EPS estimate of 6.200. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.9 billion. Carter’s also updated its FY24 guidance to $4.65-5.00 EPS.

Carter’s Stock Down 4.3 %

NYSE CRI traded down $2.55 during midday trading on Friday, hitting $57.26. 4,768,258 shares of the company traded hands, compared to its average volume of 919,259. Carter’s has a 52 week low of $54.74 and a 52 week high of $88.03. The company’s 50-day simple moving average is $63.90 and its 200-day simple moving average is $72.51. The company has a market cap of $2.09 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.30.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a return on equity of 28.55% and a net margin of 8.06%. The firm had revenue of $564.43 million during the quarter, compared to analysts’ expectations of $566.79 million. As a group, equities research analysts forecast that Carter’s will post 6.3 earnings per share for the current year.

Carter’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 28th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend was Friday, May 24th. Carter’s’s dividend payout ratio is currently 50.47%.

Analyst Ratings Changes

A number of research firms recently commented on CRI. StockNews.com cut shares of Carter’s from a buy rating to a hold rating in a research report on Wednesday, April 10th. Wells Fargo & Company decreased their price objective on Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a report on Wednesday, April 24th. Finally, Citigroup lowered their price objective on Carter’s from $66.00 to $64.00 and set a sell rating for the company in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, Carter’s has an average rating of Hold and an average price target of $73.80.

About Carter’s

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.