Carter's (NYSE:CRI) Issues Q2 Earnings Guidance

Carter's (NYSE:CRI - Get Free Report) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.35-0.45 for the period, compared to the consensus estimate of $0.79. The company issued revenue guidance of $560-570 million, compared to the consensus revenue estimate of $611.68 million. Carter's also updated its FY 2024 guidance to EPS.

Carter's Stock Down 2.2 %

NYSE CRI traded down $1.55 during trading on Friday, hitting $70.01. The company's stock had a trading volume of 1,722,308 shares, compared to its average volume of 790,624. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.15 and a quick ratio of 1.10. The company has a market cap of $2.57 billion, a PE ratio of 11.17, a P/E/G ratio of 2.12 and a beta of 1.29. The business's 50 day simple moving average is $79.73 and its 200-day simple moving average is $74.77. Carter's has a fifty-two week low of $60.65 and a fifty-two week high of $88.03.

Carter's (NYSE:CRI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.24. The business had revenue of $858.00 million during the quarter, compared to the consensus estimate of $867.81 million. Carter's had a return on equity of 28.79% and a net margin of 7.89%. The company's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. On average, equities analysts anticipate that Carter's will post 6.52 EPS for the current fiscal year.

Carter's Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 11th were issued a dividend of $0.80 per share. This is an increase from Carter's's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.57%. Carter's's payout ratio is 51.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Monness Crespi & Hardt downgraded Carter's from a buy rating to a neutral rating in a report on Monday, February 26th. Evercore ISI lifted their target price on Carter's from $70.00 to $80.00 and gave the stock an in-line rating in a report on Wednesday, February 28th. UBS Group lifted their price target on Carter's from $76.00 to $79.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Wells Fargo & Company reduced their price target on Carter's from $75.00 to $68.00 and set an equal weight rating for the company in a research report on Wednesday. Finally, StockNews.com cut Carter's from a buy rating to a hold rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat.com, Carter's has an average rating of Hold and an average target price of $73.80.

Insider Buying and Selling

In other Carter's news, Director Mark Hipp sold 1,875 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $81.74, for a total transaction of $153,262.50. Following the transaction, the director now owns 10,216 shares of the company's stock, valued at $835,055.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is owned by company insiders.

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.