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

Carter’s (NYSE:CRI) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.700-5.150 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Bank of America reduced their target price on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a research report on Monday, July 29th. 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. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.17.

Carter’s Stock Performance

Carter’s stock traded down $8.77 during trading hours on Friday, hitting $56.92. 4,842,731 shares of the stock traded hands, compared to its average volume of 938,658. 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 firm’s 50 day moving average price is $66.32 and its 200-day moving average price is $65.99. The stock 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.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, July 26th. The textile maker reported $0.76 EPS for the quarter, topping 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 firm had revenue of $564.43 million for the quarter, compared to the consensus estimate of $566.79 million. As a group, equities analysts expect that Carter’s will post 4.87 EPS for the current fiscal year.

Carter’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were paid a $0.80 dividend. 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 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.