Carter’s (NYSE:CRI) Updates 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.

Carter’s Price Performance

NYSE CRI traded down $8.77 during trading hours on Friday, reaching $56.92. The company’s stock had a trading volume of 4,842,731 shares, compared to its average volume of 938,658. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 3.86 and a beta of 1.23. Carter’s has a 1-year low of $54.74 and a 1-year high of $88.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.09 and a quick ratio of 0.95. The company’s 50-day moving average is $66.32 and its two-hundred day moving average is $65.99.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, July 26th. The textile maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. The business had revenue of $564.43 million during the quarter, compared to analysts’ expectations of $566.79 million. On average, equities analysts predict that Carter’s will post 4.87 EPS for the current year.

Carter’s Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.