Citi Trends Reaches New 1-Year High After Better-Than-Expected Earnings (CTRN)
Shares of Citi Trends (NASDAQ:CTRN) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings, Analyst Ratings Network reports. The company traded as high as $23.83 and last traded at $21.68, with a volume of 197,614 shares trading hands. The stock had previously closed at $21.53.
The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.11. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $141.30 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Citi Trends in a research note on Tuesday, July 15th.
The stock’s 50-day moving average is $20.96 and its 200-day moving average is $18.55. The company has a market cap of $323.0 million and a price-to-earnings ratio of 95.69.
Citi Trends, Inc is a retailer of urban fashion apparel and accessories for the entire family. The Company offers branded apparel from national brands, as well as private label apparel, accessories and a limited assortment of home decor items.
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