Q3 2022 EPS Estimates for Carter’s, Inc. (NYSE:CRI) Lowered by Analyst

Carter’s, Inc. (NYSE:CRIGet Rating) – Research analysts at B. Riley lowered their Q3 2022 earnings per share (EPS) estimates for Carter’s in a research note issued to investors on Monday, August 1st. B. Riley analyst S. Anderson now expects that the textile maker will earn $1.68 per share for the quarter, down from their prior forecast of $2.42. The consensus estimate for Carter’s’ current full-year earnings is $7.16 per share. B. Riley also issued estimates for Carter’s’ FY2022 earnings at $7.46 EPS and FY2023 earnings at $8.24 EPS.

Carter’s (NYSE:CRIGet Rating) last released its quarterly earnings data on Friday, July 29th. The textile maker reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.33). The business had revenue of $700.60 million during the quarter, compared to the consensus estimate of $744.31 million. Carter’s had a return on equity of 32.27% and a net margin of 8.35%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $1.67 EPS.

A number of other equities research analysts also recently commented on CRI. Citigroup downgraded Carter’s from a “buy” rating to a “sell” rating and decreased their target price for the stock from $110.00 to $68.00 in a research report on Monday, May 23rd. UBS Group boosted their target price on Carter’s from $72.00 to $86.00 and gave the stock a “maintains” rating in a research report on Monday. Bank of America downgraded Carter’s from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $120.00 to $82.00 in a research report on Wednesday, April 27th. Wells Fargo & Company decreased their target price on Carter’s from $90.00 to $80.00 and set a “maintains” rating on the stock in a research report on Wednesday, July 27th. Finally, TheStreet downgraded Carter’s from a “b-” rating to a “c+” rating in a research report on Friday, June 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Carter’s has a consensus rating of “Hold” and an average price target of $87.17.

Carter’s Price Performance

NYSE:CRI opened at $81.90 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 0.77 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $3.33 billion, a P/E ratio of 11.99, a P/E/G ratio of 3.78 and a beta of 1.29. Carter’s has a 12 month low of $67.88 and a 12 month high of $111.17. The business’s 50-day moving average is $75.65 and its 200 day moving average is $84.79.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Covestor Ltd bought a new position in shares of Carter’s during the fourth quarter valued at approximately $28,000. ACG Wealth bought a new position in shares of Carter’s during the second quarter valued at approximately $33,000. Parkside Financial Bank & Trust grew its stake in shares of Carter’s by 159.4% during the first quarter. Parkside Financial Bank & Trust now owns 415 shares of the textile maker’s stock valued at $38,000 after buying an additional 255 shares during the last quarter. Institutional & Family Asset Management LLC bought a new position in shares of Carter’s during the first quarter valued at approximately $42,000. Finally, FourThought Financial LLC grew its stake in Carter’s by 35.0% in the first quarter. FourThought Financial LLC now owns 471 shares of the textile maker’s stock worth $43,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 97.10% of the company’s stock.

Insider Buying and Selling at Carter’s

In related news, Director William J. Montgoris acquired 1,000 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were acquired at an average cost of $75.00 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now directly owns 39,525 shares in the company, valued at approximately $2,964,375. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.

Carter’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 31st were given a dividend of $0.75 per share. The ex-dividend date was Friday, May 27th. This represents a $3.00 dividend on an annualized basis and a yield of 3.66%. Carter’s’s dividend payout ratio (DPR) is presently 43.92%.

About Carter’s

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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, Carter's My First Love, little planet, and other brands in the United States and internationally. The company operates through three segments: U.S.

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