Citi Trends (NASDAQ:CTRN) issued its earnings results on Friday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03, MarketWatch Earnings reports. Citi Trends had a return on equity of 10.15% and a net margin of 2.47%. The business had revenue of $201.16 million for the quarter, compared to analyst estimates of $215.00 million. During the same quarter last year, the company earned $0.38 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis.
Shares of CTRN stock traded down $1.26 during midday trading on Friday, hitting $19.21. The company had a trading volume of 68,819 shares, compared to its average volume of 67,908. Citi Trends has a 52-week low of $17.78 and a 52-week high of $34.90. The company has a market capitalization of $265.01 million, a P/E ratio of 15.25 and a beta of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $0.32 annualized dividend and a dividend yield of 1.67%. Citi Trends’s dividend payout ratio (DPR) is currently 25.40%.
In other Citi Trends news, Director Jonathan Duskin sold 15,000 shares of Citi Trends stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $19.63, for a total value of $294,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in CTRN. Quantamental Technologies LLC purchased a new stake in shares of Citi Trends in the fourth quarter valued at approximately $40,000. Legal & General Group Plc boosted its stake in shares of Citi Trends by 32.1% in the fourth quarter. Legal & General Group Plc now owns 2,542 shares of the company’s stock valued at $52,000 after buying an additional 618 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Citi Trends by 1,635.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,725 shares of the company’s stock valued at $54,000 after buying an additional 2,568 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Citi Trends by 365.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,452 shares of the company’s stock valued at $111,000 after buying an additional 4,281 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Citi Trends in the third quarter valued at approximately $215,000. Institutional investors own 88.14% of the company’s stock.
Several brokerages have weighed in on CTRN. Sidoti began coverage on Citi Trends in a research note on Friday, February 22nd. They issued a “buy” rating and a $28.00 target price on the stock. BidaskClub downgraded Citi Trends from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, ValuEngine downgraded Citi Trends from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th.
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About Citi Trends
Citi Trends, Inc operates as a value-priced retailer of urban fashion apparel and accessories. The company offers apparel, including fashion sportswear for men and women, as well as children, such as newborns, infants, toddlers, boys, and girls; accessories comprising handbags, jewelry, footwear, belts, intimate apparel, scrubs, and sleepwear; and functional and decorative home products, as well as beauty products, books, and toys.
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