Carter’s Trading Up 7.8% on Earnings Beat (CRI)
Carter’s (NYSE:CRI) was up 7.8% during trading on Wednesday following a better than expected earnings announcement, AnalystRatings.Net reports. The company traded as high as $76.84 and last traded at $74.13, with a volume of 2,495,658 shares traded. The stock had previously closed at $68.75.
The company reported $1.02 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.01 by $0.01. The company had revenue of $770.00 million for the quarter, compared to the consensus estimate of $759.45 million. During the same quarter last year, the company posted $0.89 earnings per share. Carter’s's revenue was up 11.6% compared to the same quarter last year.
Separately, analysts at FBR Capital Markets raised their price target on shares of Carter’s from $82.00 to $85.00 in a research note on Tuesday, January 7th. They now have a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Carter’s has an average rating of “Buy” and a consensus target price of $77.88.
The stock’s 50-day moving average is $68.71 and its 200-day moving average is $71.09. The company has a market cap of $4.023 billion and a price-to-earnings ratio of 24.61.
Carter’s, Inc (NYSE:CRI) is a branded marketer of apparel for babies and young children in the United States.
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