Brokerages Expect Carter’s, Inc. (CRI) to Announce $1.65 Earnings Per Share
Equities analysts expect Carter’s, Inc. (NYSE:CRI) to report earnings of $1.65 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Carter’s’ earnings, with estimates ranging from $1.61 to $1.70. Carter’s posted earnings of $1.61 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The business is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Carter’s will report full year earnings of $5.62 per share for the current year, with EPS estimates ranging from $5.58 to $5.70. For the next year, analysts anticipate that the firm will post earnings of $6.17 per share, with EPS estimates ranging from $6.00 to $6.45. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Carter’s.
Carter’s (NYSE:CRI) last issued its earnings results on Thursday, July 27th. The textile maker reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. The business had revenue of $692.10 million for the quarter, compared to the consensus estimate of $681.08 million. Carter’s had a net margin of 7.74% and a return on equity of 33.18%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS.
Several research firms recently commented on CRI. BidaskClub lowered shares of Carter’s from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Cowen and Company set a $92.00 price target on shares of Carter’s and gave the company a “hold” rating in a report on Thursday, July 27th. FBR & Co restated a “buy” rating on shares of Carter’s in a report on Thursday, July 13th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Carter’s in a report on Wednesday, June 21st. Finally, CL King restated a “hold” rating on shares of Carter’s in a report on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Carter’s currently has a consensus rating of “Hold” and an average price target of $100.40.
In other Carter’s news, Director Thomas E. Whiddon sold 17,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $90.35, for a total value of $1,581,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Carter’s by 1.8% in the second quarter. BlackRock Inc. now owns 4,110,338 shares of the textile maker’s stock valued at $365,614,000 after buying an additional 71,765 shares during the period. Vanguard Group Inc. increased its stake in shares of Carter’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,653,088 shares of the textile maker’s stock valued at $328,048,000 after buying an additional 99,586 shares during the period. Janus Henderson Group PLC increased its stake in shares of Carter’s by 1,216.2% in the second quarter. Janus Henderson Group PLC now owns 3,399,870 shares of the textile maker’s stock valued at $302,418,000 after buying an additional 3,141,568 shares during the period. Lazard Asset Management LLC increased its stake in shares of Carter’s by 1,428.4% in the second quarter. Lazard Asset Management LLC now owns 2,289,358 shares of the textile maker’s stock valued at $203,638,000 after buying an additional 2,139,567 shares during the period. Finally, Valinor Management L.P. increased its stake in shares of Carter’s by 1.1% in the first quarter. Valinor Management L.P. now owns 1,414,121 shares of the textile maker’s stock valued at $126,988,000 after buying an additional 15,200 shares during the period. 99.88% of the stock is owned by institutional investors.
Shares of Carter’s (NYSE CRI) opened at 85.42 on Thursday. The stock has a 50 day moving average of $87.23 and a 200 day moving average of $87.50. The stock has a market cap of $4.09 billion, a PE ratio of 16.75 and a beta of 0.32. Carter’s has a 12 month low of $77.94 and a 12 month high of $99.21.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Tuesday, August 29th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, August 25th. Carter’s’s dividend payout ratio (DPR) is 29.08%.
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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