Carter’s, Inc. (CRI) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Carter’s, Inc. (NYSE:CRI) announced its quarterly earnings results on Thursday. The textile maker reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09, Bloomberg Earnings reports. The business had revenue of $692.10 million for the quarter, compared to analyst estimates of $681.08 million. Carter’s had a return on equity of 32.77% and a net margin of 7.82%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. Carter’s updated its Q3 guidance to $1.61 EPS.
Carter’s (NYSE CRI) traded down 1.55% during midday trading on Thursday, reaching $87.27. The company had a trading volume of 887,981 shares. The company’s 50 day moving average is $87.31 and its 200-day moving average is $87.10. Carter’s has a 52-week low of $77.94 and a 52-week high of $103.51. The company has a market capitalization of $4.22 billion, a P/E ratio of 17.43 and a beta of 0.33.
In related news, SVP Jill Wilson sold 4,288 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $92.10, for a total value of $394,924.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard F. Westenberger sold 3,150 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $93.13, for a total transaction of $293,359.50. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its position in Carter’s by 2.7% in the first quarter. IFP Advisors Inc now owns 1,155 shares of the textile maker’s stock worth $104,000 after buying an additional 30 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Carter’s during the second quarter worth approximately $118,000. Benjamin F. Edwards & Company Inc. raised its position in Carter’s by 100.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,392 shares of the textile maker’s stock worth $125,000 after buying an additional 696 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Carter’s during the first quarter worth approximately $158,000. Finally, WFG Advisors LP raised its position in Carter’s by 7.2% in the first quarter. WFG Advisors LP now owns 2,010 shares of the textile maker’s stock worth $180,000 after buying an additional 135 shares in the last quarter. 98.53% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on CRI. Zacks Investment Research raised Carter’s from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. set a $105.00 price target on Carter’s and gave the stock a “buy” rating in a research note on Wednesday, June 14th. FBR & Co reissued a “buy” rating on shares of Carter’s in a research note on Thursday, July 13th. CL King reissued a “hold” rating on shares of Carter’s in a research note on Thursday, June 8th. Finally, Stifel Nicolaus boosted their price target on Carter’s from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Carter’s presently has an average rating of “Hold” and an average price target of $101.80.
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Carter’s, Inc (Carter’s) is a marketer of apparel for babies and young children in the United States and Canada. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh B’gosh (OshKosh). The Company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale and International.
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