Carter’s (NYSE:CRI) Releases FY24 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.65-5.00 for the period, compared to the consensus earnings per share estimate of $6.23. The company issued revenue guidance of $2.785-2.825 billion, compared to the consensus revenue estimate of $2.93 billion. Carter’s also updated its FY 2024 guidance to 4.600-5.050 EPS.

Carter’s Trading Down 4.3 %

NYSE:CRI traded down $2.55 during trading hours on Friday, hitting $57.26. 4,768,258 shares of the stock were exchanged, compared to its average volume of 919,259. The company’s 50 day moving average is $63.90 and its two-hundred day moving average is $72.49. The company has a market capitalization of $2.09 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 2.81 and a beta of 1.22. Carter’s has a twelve month low of $54.74 and a twelve month high of $88.03. The company has a quick ratio of 1.30, a current ratio of 2.43 and a debt-to-equity ratio of 0.59.

Carter’s (NYSE:CRI) last announced its quarterly earnings data on Friday, July 26th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.31. The firm had revenue of $564.43 million for the quarter, compared to analysts’ expectations of $566.79 million. Carter’s had a net margin of 8.06% and a return on equity of 28.55%. On average, sell-side analysts anticipate that Carter’s will post 4.83 earnings per share for the current fiscal year.

Carter’s Announces Dividend

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

Analysts Set New Price Targets

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

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.