Carters, Inc. (CRI) just surged into a new all-time high after reporting another strong quarter that came in ahead of expectations. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock is another momentum pick out of retail.
Company Description
Carter’s, Inc., together with its subsidiaries, designs and sells branded children’s wear. The company was founded in 1865 and has a market cap of $2.35 billion.
Carters was already up big on the year before strong Q3 results from late October pushed shares into a new all-time high.
Third-Quarter Results
Sales for the period were up 24% from last year to $640 million. Earnings also came in strong at 67 cents, 14% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 26% over the last four quarters.
Carter’s Retail Segment saw sales climb 22% to $184 million. Same-store sales were up a solid 5.5%.
Estimates
We saw some solid movement in estimates off the good quarter, with the current year adding 8 cents to $1.89. The next-year estimate is pegged at $2.33, a bullish 23% growth projection.
Valuation
With a PEG ratio of .91, CRI trades at a discount to the benchmark of 1 for value.
2-Year Chart
On the chart, shares took a nice jump off the good quarter, logging a new all-time high in the process. Take a look below.
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Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.
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