Carter’s, Inc. to Issue Quarterly Dividend of $0.80 (NYSE:CRI)

Carter’s, Inc. (NYSE:CRI) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.80 per share by the textile maker on Friday, March 28th. This represents a $3.20 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend is Monday, March 10th.

Carter’s has increased its dividend by an average of 31.7% annually over the last three years. Carter’s has a dividend payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carter’s to earn $4.77 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 67.1%.

Carter’s Stock Performance

Shares of Carter’s stock traded down $1.41 during trading on Wednesday, reaching $42.26. The company’s stock had a trading volume of 2,249,504 shares, compared to its average volume of 1,063,931. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $53.10 and a two-hundred day moving average price of $58.37. Carter’s has a fifty-two week low of $42.27 and a fifty-two week high of $88.03. The firm has a market cap of $1.52 billion, a PE ratio of 6.66, a P/E/G ratio of 3.37 and a beta of 1.21.

Carter’s (NYSE:CRI) last released its quarterly earnings data on Tuesday, February 25th. The textile maker reported $2.39 EPS for the quarter, topping the consensus estimate of $1.87 by $0.52. Carter’s had a net margin of 8.11% and a return on equity of 27.15%. The business had revenue of $859.70 million for the quarter, compared to analyst estimates of $835.82 million. During the same period in the previous year, the firm earned $2.76 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts forecast that Carter’s will post 5.15 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRI shares. Wells Fargo & Company decreased their target price on Carter’s from $65.00 to $48.00 and set an “equal weight” rating for the company in a report on Wednesday. UBS Group cut their price target on Carter’s from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Citigroup lowered their target price on Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.20.

About Carter’s

Carter’s, Inc engages in the business of brand marketing of young children’s apparel. It operates through the following segments: the United States (US) Retail, US Wholesale, and International. The US Retail segment includes selling products through retail stores and ecommerce websites. The US Wholesale segment focuses on wholesale partners.