Citi Trends, Inc. (NASDAQ:CTRN) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokers have set a one year consensus price objective of $28.00 for the company and are anticipating that the company will post $0.63 EPS for the current quarter, according to Zacks. Zacks has also given Citi Trends an industry rank of 100 out of 255 based on the ratings given to related companies.
A number of brokerages recently weighed in on CTRN. Sidoti began coverage on shares of Citi Trends in a research report on Friday, February 22nd. They set a “buy” rating and a $28.00 price target for the company. BidaskClub cut shares of Citi Trends from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. Finally, ValuEngine cut shares of Citi Trends from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th.
A number of hedge funds have recently modified their holdings of CTRN. Garnet Equity Capital Holdings Inc. acquired a new position in Citi Trends in the 4th quarter worth $2,412,000. Northern Trust Corp lifted its holdings in Citi Trends by 41.3% in the 2nd quarter. Northern Trust Corp now owns 270,449 shares of the company’s stock worth $7,421,000 after buying an additional 79,112 shares in the last quarter. Ancora Advisors LLC acquired a new position in Citi Trends in the 4th quarter worth $1,062,000. TIAA CREF Investment Management LLC lifted its holdings in Citi Trends by 36.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 178,913 shares of the company’s stock worth $5,147,000 after buying an additional 47,988 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in Citi Trends in the 3rd quarter worth $1,296,000. Hedge funds and other institutional investors own 88.14% of the company’s stock.
Citi Trends stock traded down $0.66 during trading on Friday, reaching $19.81. 55,660 shares of the company’s stock were exchanged, compared to its average volume of 67,908. Citi Trends has a 52-week low of $17.78 and a 52-week high of $34.90. The stock has a market cap of $265.01 million, a price-to-earnings ratio of 15.72 and a beta of 0.47.
Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Friday, March 15th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Citi Trends had a net margin of 2.47% and a return on equity of 10.15%. The firm had revenue of $201.16 million during the quarter, compared to analysts’ expectations of $215.00 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. On average, analysts predict that Citi Trends will post 1.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.62%. Citi Trends’s dividend payout ratio (DPR) is 25.40%.
Citi Trends Company Profile
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.
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