Wall Street brokerages forecast that Carter’s (NYSE:CRI) will post sales of $744.75 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Carter’s’ earnings, with the lowest sales estimate coming in at $740.00 million and the highest estimate coming in at $750.70 million. Carter’s posted sales of $732.76 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The business is expected to announce its next earnings report on Thursday, April 26th.
On average, analysts expect that Carter’s will report full-year sales of $744.75 million for the current financial year, with estimates ranging from $3.54 billion to $3.58 billion. For the next year, analysts anticipate that the company will report sales of $3.71 billion per share, with estimates ranging from $3.65 billion to $3.74 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Carter’s.
Carter’s (NYSE:CRI) last posted its earnings results on Tuesday, February 27th. The textile maker reported $2.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.12. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Carter’s had a net margin of 8.90% and a return on equity of 35.46%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 EPS.
A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Carter’s from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research report on Tuesday, December 26th. Wells Fargo raised shares of Carter’s from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Citigroup increased their target price on shares of Carter’s from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. ValuEngine raised shares of Carter’s from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Oppenheimer increased their target price on shares of Carter’s from $112.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Carter’s presently has an average rating of “Buy” and an average price target of $121.00.
In other news, EVP Greg Foglesong sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $117.98, for a total transaction of $707,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Lynch sold 26,500 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $116.12, for a total value of $3,077,180.00. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CRI. Teachers Retirement System of The State of Kentucky lifted its stake in Carter’s by 4.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,097 shares of the textile maker’s stock worth $2,873,000 after purchasing an additional 1,313 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Carter’s by 44.6% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 237,488 shares of the textile maker’s stock worth $23,452,000 after purchasing an additional 73,293 shares during the last quarter. Legal & General Group Plc lifted its stake in Carter’s by 26.7% during the third quarter. Legal & General Group Plc now owns 56,184 shares of the textile maker’s stock worth $5,549,000 after purchasing an additional 11,853 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Carter’s by 14.2% during the third quarter. Wells Fargo & Company MN now owns 227,028 shares of the textile maker’s stock worth $22,419,000 after purchasing an additional 28,224 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Carter’s by 4.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 175,063 shares of the textile maker’s stock worth $17,288,000 after purchasing an additional 7,093 shares during the last quarter. Hedge funds and other institutional investors own 97.50% of the company’s stock.
CRI traded down $3.26 on Wednesday, reaching $100.84. 955,342 shares of the company’s stock were exchanged, compared to its average volume of 757,944. The company has a market cap of $4,902.21, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.61 and a beta of 0.44. Carter’s has a twelve month low of $79.76 and a twelve month high of $129.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 3.10.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Monday, March 12th were paid a dividend of $0.45 per share. This is a boost from Carter’s’s previous quarterly dividend of $0.37. This represents a $1.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, March 9th. Carter’s’s dividend payout ratio is 31.25%.
Carter’s declared that its board has approved a stock buyback plan on Tuesday, February 27th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, Child of Mine, Just One You, Precious Firsts, Simple Joys, OshKosh, Skip Hop, and other brands. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International.
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