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 EPS guidance of 4.700-5.150 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company upped their target price on Carter’s from $60.00 to $72.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Bank of America decreased their price objective on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating for the company in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, Carter’s currently has an average rating of “Hold” and an average price target of $71.17.

Carter’s Stock Performance

Shares of NYSE:CRI traded down $8.74 during trading on Friday, reaching $56.95. 4,843,069 shares of the company’s stock traded hands, compared to its average volume of 938,658. The stock has a market capitalization of $2.08 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 3.86 and a beta of 1.23. Carter’s has a 12 month low of $54.74 and a 12 month high of $88.03. The company has a 50 day moving average of $66.18 and a 200-day moving average of $65.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.09 and a quick ratio of 0.95.

Carter’s (NYSE:CRI) last posted its earnings results on Friday, October 25th. The textile maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.35. The company had revenue of $758.46 million for the quarter, compared to analysts’ expectations of $747.95 million. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. On average, equities analysts expect that Carter’s will post 4.87 EPS for the current year.

Carter’s Announces Dividend

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