Citi Trends, Inc. (NASDAQ:CTRN – Get Rating) – Analysts at Telsey Advisory Group decreased their Q2 2023 EPS estimates for Citi Trends in a research note issued on Wednesday, May 25th. Telsey Advisory Group analyst D. Telsey now expects that the company will post earnings of $0.19 per share for the quarter, down from their previous estimate of $0.70. Telsey Advisory Group also issued estimates for Citi Trends’ Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $1.39 EPS, FY2023 earnings at $2.52 EPS, Q2 2024 earnings at $0.37 EPS, Q3 2024 earnings at $0.63 EPS, Q4 2024 earnings at $1.47 EPS and FY2024 earnings at $3.34 EPS.
Citi Trends (NASDAQ:CTRN – Get Rating) last released its quarterly earnings results on Tuesday, May 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.08. Citi Trends had a net margin of 6.28% and a return on equity of 48.27%. During the same quarter last year, the company earned $3.23 EPS.
Other equities research analysts also recently issued research reports about the stock. Gordon Haskett lowered shares of Citi Trends from a “buy” rating to an “accumulate” rating and decreased their target price for the company from $90.00 to $60.00 in a research note on Thursday, February 10th. TheStreet lowered shares of Citi Trends from a “b-” rating to a “c+” rating in a research note on Thursday, February 17th. StockNews.com began coverage on Citi Trends in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, Benchmark cut their price objective on Citi Trends to $50.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Citi Trends has an average rating of “Buy” and an average price target of $45.00.
NASDAQ CTRN opened at $33.57 on Friday. The company has a 50 day simple moving average of $30.63 and a 200-day simple moving average of $51.59. Citi Trends has a 52-week low of $21.70 and a 52-week high of $97.46. The firm has a market capitalization of $291.02 million, a price-to-earnings ratio of 4.95 and a beta of 2.01.
A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. increased its stake in shares of Citi Trends by 69.7% in the third quarter. UBS Asset Management Americas Inc. now owns 5,435 shares of the company’s stock valued at $397,000 after buying an additional 2,232 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Citi Trends by 125.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 22,360 shares of the company’s stock valued at $1,631,000 after acquiring an additional 12,439 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new position in shares of Citi Trends during the third quarter worth approximately $217,000. Janney Montgomery Scott LLC grew its stake in shares of Citi Trends by 15.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,183 shares of the company’s stock valued at $2,386,000 after purchasing an additional 3,296 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Citi Trends by 38.1% in the 4th quarter. Jennison Associates LLC now owns 587,715 shares of the company’s stock worth $55,686,000 after purchasing an additional 161,998 shares during the last quarter.
In other news, SVP Jessica Berkowitz sold 1,815 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $31.95, for a total transaction of $57,989.25. Following the sale, the senior vice president now directly owns 5,446 shares in the company, valued at $173,999.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.20% of the stock is currently owned by company insiders.
Citi Trends Company Profile (Get Rating)
Citi Trends, Inc operates as a value retailer of fashion apparel, accessories, and home goods. It offers apparel, such as fashion sportswear and footwear for men and ladies, as well as apparel for kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.
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