Carter’s, Inc. (NYSE:CRI) Plans $0.80 Quarterly Dividend

Carter’s, Inc. (NYSE:CRI) announced a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Shareholders of record on Tuesday, August 27th will be given a dividend of 0.80 per share by the textile maker on Friday, September 13th. This represents a $3.20 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Tuesday, August 27th.

Carter’s has raised its dividend by an average of 71.0% per year over the last three years. Carter’s has a dividend payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carter’s to earn $5.44 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 58.8%.

Carter’s Stock Up 1.8 %

Shares of NYSE:CRI opened at $66.27 on Monday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 3.71 and a beta of 1.22. The stock’s 50-day moving average price is $62.24 and its 200-day moving average price is $70.71. The company has a current ratio of 2.09, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. Carter’s has a 12-month low of $54.74 and a 12-month high of $88.03.

Carter’s (NYSE:CRI) last issued its earnings results on Friday, July 26th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.31. Carter’s had a return on equity of 28.65% and a net margin of 8.29%. The company had revenue of $564.43 million during the quarter, compared to analysts’ expectations of $566.79 million. On average, equities analysts anticipate that Carter’s will post 4.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America cut their target price on shares of Carter’s from $65.00 to $54.00 and set an “underperform” rating on the stock in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.50.

Carter’s Company Profile

Carter's, Inc, together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, and other brands in the United States and internationally. It operates through three segments: U.S.