Carter’s (NYSE:CRI) Releases FY 2024 Earnings Guidance

Carter’s (NYSE:CRI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.700-5.150 for the period, compared to the consensus EPS estimate of 5.040. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. Carter’s also updated its Q4 guidance to 1.32-1.72 EPS.

Carter’s Stock Performance

NYSE:CRI opened at $56.95 on Monday. The stock’s 50-day moving average is $66.18 and its 200-day moving average is $65.73. Carter’s has a 1-year low of $54.74 and a 1-year high of $88.03. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.08 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 3.86 and a beta of 1.23.

Carter’s (NYSE:CRI) last posted its earnings results on Friday, October 25th. The textile maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.29 by $0.35. Carter’s had a net margin of 8.29% and a return on equity of 28.65%. The business had revenue of $758.46 million for the quarter, compared to the consensus estimate of $747.95 million. Equities research analysts anticipate that Carter’s will post 4.87 earnings per share for the current year.

Carter’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $3.20 annualized dividend and a dividend yield of 5.62%. Carter’s’s dividend payout ratio is 50.47%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America cut their target price on Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th. Wells Fargo & Company raised their price objective on Carter’s from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.17.

About Carter’s

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.