Citi Trends Inc. (NASDAQ:CTRN) – Research analysts at SunTrust Banks lowered their FY2017 earnings per share estimates for Citi Trends in a note issued to investors on Wednesday. SunTrust Banks analyst P. Quintiliano now forecasts that the brokerage will post earnings of $0.91 per share for the year, down from their previous estimate of $1.00. SunTrust Banks also issued estimates for Citi Trends’ Q4 2017 earnings at $0.37 EPS and FY2018 earnings at $1.21 EPS.
Citi Trends (NASDAQ:CTRN) last announced its earnings results on Tuesday, November 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. The business had revenue of $160.70 million for the quarter, compared to analyst estimates of $167.45 million. Citi Trends had a return on equity of 5.27% and a net margin of 1.64%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Citi Trends from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. TheStreet raised shares of Citi Trends from a “hold” rating to a “buy” rating in a report on Monday, September 19th. Finally, MKM Partners reissued a “neutral” rating and set a $16.00 target price on shares of Citi Trends in a report on Wednesday, August 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $18.50.
Citi Trends (NASDAQ:CTRN) opened at 18.69 on Monday. The firm has a market cap of $274.28 million, a PE ratio of 21.68 and a beta of 0.34. The firm’s 50-day moving average is $20.09 and its 200-day moving average is $18.15. Citi Trends has a 12 month low of $14.01 and a 12 month high of $22.73.
Hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new stake in Citi Trends during the first quarter worth $633,000. Panagora Asset Management Inc. raised its position in shares of Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock worth $3,593,000 after buying an additional 12,577 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Citi Trends during the second quarter worth about $244,000. Stoneridge Investment Partners LLC bought a new position in shares of Citi Trends during the second quarter worth about $203,000. Finally, Northpointe Capital LLC raised its position in shares of Citi Trends by 7.9% in the second quarter. Northpointe Capital LLC now owns 175,070 shares of the company’s stock worth $2,719,000 after buying an additional 12,875 shares in the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 29th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 25th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.28%. Citi Trends’s dividend payout ratio (DPR) is presently 31.17%.
About Citi Trends