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Brokers Issue Forecasts for Carter’s, Inc.’s Q2 2023 Earnings (NYSE:CRI)

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Carter’s, Inc. (NYSE:CRIGet Rating) – Equities researchers at Wedbush lowered their Q2 2023 earnings per share (EPS) estimates for Carter’s in a research report issued on Thursday, January 26th. Wedbush analyst T. Nikic now expects that the textile maker will post earnings per share of $1.28 for the quarter, down from their prior forecast of $1.37. Wedbush has a “Neutral” rating and a $78.00 price objective on the stock. The consensus estimate for Carter’s’ current full-year earnings is $6.37 per share. Wedbush also issued estimates for Carter’s’ Q3 2023 earnings at $1.97 EPS, Q4 2023 earnings at $2.48 EPS, FY2023 earnings at $6.92 EPS and FY2024 earnings at $7.35 EPS.

Other research analysts also recently issued reports about the company. Monness Crespi & Hardt reduced their target price on Carter’s to $84.00 in a research note on Tuesday, November 1st. StockNews.com started coverage on shares of Carter’s in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $82.25.

Carter’s Price Performance

Shares of NYSE CRI opened at $80.59 on Friday. The company has a quick ratio of 0.81, a current ratio of 2.40 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average price is $75.83 and its two-hundred day moving average price is $75.03. The company has a market cap of $3.08 billion, a PE ratio of 12.27 and a beta of 1.21. Carter’s has a twelve month low of $62.65 and a twelve month high of $100.07.

Carter’s (NYSE:CRIGet Rating) last released its quarterly earnings data on Friday, October 28th. The textile maker reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.02. Carter’s had a net margin of 7.94% and a return on equity of 44.06%. The company had revenue of $818.60 million for the quarter, compared to analyst estimates of $853.63 million. During the same period in the previous year, the business earned $1.93 EPS. Carter’s’s revenue for the quarter was down 8.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in Carter’s during the 2nd quarter worth $26,000. Ronald Blue Trust Inc. raised its holdings in Carter’s by 331.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 406 shares of the textile maker’s stock valued at $29,000 after buying an additional 312 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Carter’s by 159.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the textile maker’s stock worth $38,000 after buying an additional 255 shares during the period. Covestor Ltd grew its holdings in Carter’s by 129.7% during the 1st quarter. Covestor Ltd now owns 627 shares of the textile maker’s stock worth $58,000 after acquiring an additional 354 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Carter’s by 20.3% during the second quarter. Fifth Third Bancorp now owns 805 shares of the textile maker’s stock valued at $57,000 after acquiring an additional 136 shares during the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carter’s news, CEO Michael Dennis Casey sold 17,287 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $75.05, for a total transaction of $1,297,389.35. Following the completion of the transaction, the chief executive officer now directly owns 396,187 shares in the company, valued at $29,733,834.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Carter’s news, CEO Michael Dennis Casey sold 17,287 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $75.05, for a total transaction of $1,297,389.35. Following the completion of the transaction, the chief executive officer now owns 396,187 shares of the company’s stock, valued at $29,733,834.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Julie D’emilio sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $72.77, for a total transaction of $363,850.00. Following the completion of the sale, the executive vice president now owns 33,761 shares in the company, valued at $2,456,787.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,610 shares of company stock worth $6,935,813. Corporate insiders own 3.60% of the company’s stock.

Carter’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 29th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, November 28th. Carter’s’s payout ratio is presently 45.66%.

Carter’s Company Profile

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Carter’s, Inc engages in the marketing of apparel for babies and young children. It operates through the following segments: U.S. Retail, U.S. Wholesale, and International. The U.S. retail segment consists of sales of products in retail and online stores. The U.S. Wholesale segment includes sales in the United States of products to wholesale partners.

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