Carter’s (NYSE:CRI) Releases Q3 2024 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.100-1.350 for the period, compared to the consensus earnings per share estimate of 1.880. The company issued revenue guidance of $735.0 million-$755.0 million, compared to the consensus revenue estimate of $805.9 million. Carter’s also updated its FY 2024 guidance to 4.600-5.050 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRI shares. StockNews.com downgraded shares of Carter’s from a buy rating to a hold rating in a report on Wednesday, April 10th. Citigroup cut their price target on Carter’s from $66.00 to $64.00 and set a sell rating for the company in a report on Thursday, April 18th. Finally, Wells Fargo & Company decreased their price objective on Carter’s from $75.00 to $68.00 and set an equal weight rating on the stock in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $73.80.

Carter’s Price Performance

NYSE CRI traded down $2.55 on Friday, hitting $57.26. The stock had a trading volume of 4,768,258 shares, compared to its average volume of 919,259. The firm has a 50-day moving average of $63.90 and a 200-day moving average of $72.51. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 2.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.30 and a current ratio of 2.43. Carter’s has a 52-week low of $54.74 and a 52-week high of $88.03.

Carter’s (NYSE:CRI) last issued its quarterly earnings data on Friday, July 26th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.31. Carter’s had a return on equity of 28.55% and a net margin of 8.06%. The company had revenue of $564.43 million for the quarter, compared to the consensus estimate of $566.79 million. Equities analysts expect that Carter’s will post 6.3 EPS for the current year.

Carter’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 5.59%. The ex-dividend date was Friday, May 24th. 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.