Carter’s, Inc. (CRI) to Issue Quarterly Dividend of $0.80 on March 28th

Carter’s, Inc. (NYSE:CRI) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.80 per share by the textile maker on Friday, March 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date of this dividend is Monday, March 10th.

Carter’s has raised its dividend payment by an average of 31.7% per year over the last three years. Carter’s has a dividend payout ratio of 80.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 Up 1.6 %

NYSE:CRI opened at $41.49 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of 6.59, a price-to-earnings-growth ratio of 3.37 and a beta of 1.24. The stock has a 50 day moving average of $51.15 and a 200-day moving average of $57.38. The company has a current ratio of 2.21, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60. Carter’s has a 52 week low of $39.88 and a 52 week high of $88.03.

Carter’s (NYSE:CRI) last released its quarterly earnings results on Tuesday, February 25th. The textile maker reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.52. The company had revenue of $859.70 million during the quarter, compared to analysts’ expectations of $835.82 million. Carter’s had a return on equity of 27.15% and a net margin of 8.11%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 earnings per share. Analysts predict that Carter’s will post 5.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on Carter’s from $65.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. UBS Group reduced their price target on shares of Carter’s from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup lowered their price objective on shares of Carter’s from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.00.

Carter’s Company Profile

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.