Carter’s, Inc. (NYSE:CRI – Get Rating) – B. Riley Research analysts reduced their second quarter 2022 EPS estimates for Carter’s in a research note released Monday, May 2. B. Riley analyst S. Anderson now expects the textile maker to post earnings of $1.70 per share for the quarter, down from its previous forecast of $1.84. B. Riley also released estimates of Carter’s earnings for fiscal 2022 at $8.92 EPS.
Carter’s (NYSE:CRI – Get Rating) last announced its quarterly results on Friday, April 29. The textile maker reported earnings per share (EPS) of $1.66 for the quarter, beating Thomson Reuters consensus estimate of $1.39 by $0.27. Carter’s had a return on equity of 32.19% and a net margin of 9.24%. The company posted revenue of $781.30 million in the quarter, versus a consensus estimate of $751.21 million. In the same quarter a year earlier, the company posted earnings per share of $1.98. Carter’s revenue was down 0.8% from the same quarter last year.
Several other equity research analysts have also recently released reports on the company. Wells Fargo & Company reduced its price target on Carter’s from $105.00 to $95.00 and set an “equal weight” rating for the company in a Tuesday, April 5 report. Citigroup raised its price target on Carter’s from $124.00 to $127.00 and gave the stock a “buy” rating in a Monday, February 28 report. Bank of America downgraded Carter’s from a “buy” rating to an “underperform” rating and cut its price target for the stock from $120.00 to $82.00 in a Wednesday research report April 27. StockNews.com upgraded Carter’s from a “buy” to a “hold” rating in a Thursday, April 28 research report. Finally, Wedbush upgraded Carter’s from a “neutral” rating to an “outperforming” rating and set a price target of $108.00 on the stock in a Monday, March 7 research report. One equity research analyst gave the stock a sell rating, four gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.88.
Carter’s shares opened at $85.27 on Tuesday. The stock’s fifty-day moving average is $91.86. Carter’s has a 12-month low of $82.36 and a 12-month high of $112.55. The company has a market capitalization of $3.47 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a debt ratio of 0.54, a current ratio of 1.65 and a quick ratio of 0.99.
The company also recently declared a quarterly dividend, which was paid on Friday, March 18. Shareholders of record on Tuesday, March 8 received a dividend of $0.75 per share. This represents a dividend of $3.00 on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Monday, March 7. This is a boost from Carter’s previous quarterly dividend of $0.60. Carter’s dividend payout ratio is currently 39.89%.
Several hedge funds and other institutional investors have recently changed their holdings to CRIs. Boston Partners increased its stake in Carter’s stock by 113.6% during the third quarter. Boston Partners now owns 1,288,428 shares of the textile maker valued at $125,221,000 after purchasing an additional 685,199 shares during the period. Alliancebernstein LP increased its stake in Carter’s stock by 42.3% during the 4th quarter. Alliancebernstein LP now owns 2,064,486 shares of the textile maker valued at $208,967,000 after purchasing an additional 613,663 shares during the period. LSV Asset Management purchased a new equity stake in Carter’s during Q4 valued at $48,221,000. Norges Bank purchased a new stake in Carter’s stock during Q4 for $42,128,000. Finally, Millennium Management LLC increased its stake in Carter’s shares by 183.9% during the 3rd quarter. Millennium Management LLC now owns 440,560 shares of the textile maker valued at $42,840,000 after purchasing an additional 285,386 shares during the period. 97.10% of the shares are currently held by hedge funds and other institutional investors.
Carter Company Profile (Get an evaluation)
Carter’s, Inc., together with its subsidiaries, designs, sources and markets branded children’s apparel under the Carter’s, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Carter’s My First Love, Little Planet brands. and other brands from the United States and internationally. The Company operates through three segments: United States
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