Carter’s, Inc. (NYSE:CRI) Expected to Announce Earnings of $1.68 Per Share

Wall Street brokerages expect that Carter’s, Inc. (NYSE:CRI) will post earnings of $1.68 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Carter’s’ earnings. The lowest EPS estimate is $1.67 and the highest is $1.70. Carter’s reported earnings per share of $1.61 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Carter’s will report full-year earnings of $6.57 per share for the current fiscal year, with EPS estimates ranging from $6.29 to $6.68. For the next financial year, analysts anticipate that the company will report earnings of $7.08 per share, with EPS estimates ranging from $6.70 to $7.31. Zacks’ EPS calculations are an average based on a survey of research firms that cover Carter’s.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. Carter’s had a return on equity of 34.45% and a net margin of 8.05%. The firm had revenue of $734.38 million for the quarter, compared to analyst estimates of $730.86 million. During the same period in the prior year, the firm posted $0.79 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis.

CRI has been the topic of a number of research reports. ValuEngine raised Carter’s from a “sell” rating to a “hold” rating in a report on Friday. B. Riley set a $118.00 price objective on Carter’s and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, DA Davidson raised Carter’s from a “neutral” rating to a “buy” rating and upped their price objective for the company from $91.00 to $110.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Carter’s presently has an average rating of “Buy” and a consensus price target of $108.22.

In other news, Director Amy Woods Brinkley sold 1,298 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $92.41, for a total transaction of $119,948.18. Following the sale, the director now directly owns 16,468 shares of the company’s stock, valued at approximately $1,521,807.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRI. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Carter’s by 145.0% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,023,140 shares of the textile maker’s stock worth $294,877,000 after purchasing an additional 1,788,956 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Carter’s by 24.2% during the 2nd quarter. Victory Capital Management Inc. now owns 3,179,318 shares of the textile maker’s stock worth $310,110,000 after purchasing an additional 620,375 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Carter’s by 27.7% during the 2nd quarter. Mackenzie Financial Corp now owns 1,907,243 shares of the textile maker’s stock worth $186,032,000 after purchasing an additional 414,132 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Carter’s by 202.7% during the 1st quarter. Lazard Asset Management LLC now owns 361,623 shares of the textile maker’s stock worth $36,447,000 after purchasing an additional 242,155 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Carter’s during the 1st quarter worth $18,459,000.

NYSE CRI traded up $1.63 on Friday, reaching $91.83. The stock had a trading volume of 582,796 shares, compared to its average volume of 716,997. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.20 and a quick ratio of 0.73. The firm has a fifty day moving average of $90.78 and a two-hundred day moving average of $94.45. Carter’s has a 1-year low of $75.66 and a 1-year high of $109.71. The company has a market cap of $4.04 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.50 per share. This is a positive change from Carter’s’s previous quarterly dividend of $0.22. This represents a $2.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, August 30th. Carter’s’s dividend payout ratio is 31.80%.

About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Precious Baby, Simple Joys, OshKosh B'gosh, Skip Hop, and other brands. The company operates through three segments: U.S.

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