Carter’s (NYSE:CRI) Announces Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Carter’s (NYSE:CRI) issued its quarterly earnings data on Friday. The textile maker reported $1.84 EPS for the quarter, beating the consensus estimate of $1.54 by $0.30, Briefing.com reports. The company had revenue of $792.00 million during the quarter, compared to analysts’ expectations of $785.91 million. Carter’s had a net margin of 6.87% and a return on equity of 27.45%. Carter’s’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 earnings per share.

Carter’s Trading Up 0.2 %

Shares of CRI opened at $64.33 on Monday. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 11.74 and a beta of 1.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 2.30. Carter’s has a fifty-two week low of $60.65 and a fifty-two week high of $86.76. The firm has a 50 day moving average price of $67.77 and a 200-day moving average price of $68.96.

Carter’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $3.00 dividend on an annualized basis and a yield of 4.66%. Carter’s’s dividend payout ratio is presently 54.74%.

Insider Transactions at Carter’s

In other news, SVP Jill Wilson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $74.88, for a total value of $149,760.00. Following the completion of the sale, the senior vice president now directly owns 27,085 shares in the company, valued at approximately $2,028,124.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Jill Wilson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $74.88, for a total value of $149,760.00. Following the completion of the sale, the senior vice president now directly owns 27,085 shares in the company, valued at approximately $2,028,124.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeff Jenkins sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $69.15, for a total transaction of $242,923.95. Following the completion of the sale, the executive vice president now owns 33,166 shares of the company’s stock, valued at $2,293,428.90. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Carter’s

Several institutional investors have recently added to or reduced their stakes in CRI. Fuller & Thaler Asset Management Inc. boosted its position in Carter’s by 17,623.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 450,695 shares of the textile maker’s stock valued at $41,459,000 after buying an additional 448,152 shares during the period. Renaissance Technologies LLC purchased a new stake in Carter’s during the 1st quarter valued at $26,217,000. Norges Bank purchased a new stake in Carter’s during the 4th quarter valued at $22,564,000. Rockefeller Capital Management L.P. boosted its position in Carter’s by 1,177.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 295,810 shares of the textile maker’s stock valued at $21,274,000 after buying an additional 272,662 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Carter’s by 161.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 434,571 shares of the textile maker’s stock valued at $30,628,000 after buying an additional 268,415 shares during the period.

Analyst Ratings Changes

Several brokerages recently commented on CRI. Wedbush reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Carter’s in a research note on Thursday, August 3rd. Citigroup boosted their price target on shares of Carter’s from $60.00 to $63.00 and gave the stock a “sell” rating in a research note on Friday, July 21st. Finally, StockNews.com began coverage on shares of Carter’s in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.00.

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. The company operates through three segments: U.S.