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 (EPS) guidance of 4.600-5.050 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

CRI has been the subject of a number of research analyst reports. Citigroup dropped their price objective on Carter’s from $66.00 to $64.00 and set a sell rating for the company in a report on Thursday, April 18th. Wells Fargo & Company decreased their price objective on shares of Carter’s from $75.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, April 24th. Finally, StockNews.com lowered shares of Carter’s from a buy rating to a hold rating in a research report on Wednesday, April 10th. One equities research 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 presently has an average rating of Hold and an average target price of $73.80.

Carter’s Stock Performance

Shares of NYSE:CRI traded down $2.55 during trading hours on Friday, hitting $57.26. The stock had a trading volume of 4,768,258 shares, compared to its average volume of 919,259. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.30 and a current ratio of 2.43. The stock’s fifty day simple moving average is $63.90 and its 200 day simple moving average is $72.51. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.94 and a beta of 1.22. Carter’s has a 1-year low of $54.74 and a 1-year high of $88.03.

Carter’s (NYSE:CRI) last announced its earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.31. The firm had revenue of $564.43 million for the quarter, compared to the consensus estimate of $566.79 million. Carter’s had a return on equity of 28.55% and a net margin of 8.06%. Sell-side analysts anticipate that Carter’s will post 6.3 earnings per share for the current fiscal year.

Carter’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, May 24th. This represents a $3.20 annualized dividend and a yield of 5.59%. Carter’s’s payout ratio is 50.47%.

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.