Carter's Earnings Forecast: Analysts Weigh In on Performance
Carter's Prepares for Earnings Report
Carter’s, Inc. (NYSE: CRI) is set to announce its earnings results for the upcoming third quarter soon. Analysts are closely watching as this release approaches. Expectations are building around their performance and the company's strategies to navigate a challenging market environment.
Analysts' Forecasts and Expectations
The anticipated earnings for Carter's are projected to be 74 cents per share. This figure represents a noticeable decline compared to the $1.64 earnings per share reported during the same quarter last year. Moreover, the consensus estimate for quarterly revenue stands at $773.09 million, reflecting a modest increase from $758.46 million a year earlier. These insights are drawn from the latest data provided by market analysts.
Recent Developments Influencing Market Sentiment
Recently, on September 24, Carter’s implemented a limited duration stockholder rights plan. This decision followed an unexpected accumulation of a 16.86% stake by an investor, sparking conversation in the investor community. Such protective measures signal the company's proactive approach in defending stakeholder interests.
Stock Performance Highlights
Interestingly, shares of Carter’s rose by 1.8%, concluding the trading day at $32.35. This uptick signals some confidence among investors despite the broader market uncertainties. Potential and current investors are eagerly awaiting the earnings report to gauge the future trajectory of the company.
Analyst Ratings Overview
Wall Street analysts are adjusting their ratings and price targets for Carter's based on their market predictions. Key insights from various analysts include:
- Jay Sole from UBS has maintained a Neutral rating while reducing his price target from $32 to $26, reflecting a cautious stance on the stock's future performance.
- Ike Boruchow of Wells Fargo continues to hold an Underweight rating but has increased the price target from $25 to $28, indicating a belief in modest growth.
- Lastly, Paul Lejuez from Citigroup has reiterated a Neutral rating, also lowering the price target from $50 to $45, emphasizing ongoing concerns.
Why This Earnings Report Matters
For potential investors considering CRI stock, understanding these recent changes is crucial. Analysts' insights not only provide a glimpse into expected earnings but also reflect broader market sentiments and challenges. Stakeholders should pay close attention to how the company responds to both internal and external pressures.
What Analysts Recommend
Analysts emphasize the importance of the upcoming earnings report for evaluating Carter's financial health and strategic direction. As the company evolves, feedback from analysts can play a pivotal role in guiding investor decisions.
Frequently Asked Questions
What is Carter's expected earnings per share for the upcoming quarter?
The expected earnings per share for Carter's is projected at 74 cents.
When will Carter's earnings report be released?
Carter's earnings report is scheduled to be released before the market opens on the set date.
What was Carter's stock price movement recently?
Shares of Carter’s rose by 1.8%, closing at $32.35, indicating positive market sentiment.
Which analysts recently changed their ratings for Carter's?
Analysts from UBS, Wells Fargo, and Citigroup have recently adjusted their ratings and price targets for Carter's.
What is the significance of Carter's stockholder rights plan?
The stockholder rights plan aims to protect the company and its shareholders from unsolicited takeover attempts.
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