Shares of Citi Trends, Inc. (NASDAQ:CTRN) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Zacks has also assigned Citi Trends an industry rank of 171 out of 265 based on the ratings given to its competitors.
CTRN has been the subject of a number of recent research reports. BidaskClub downgraded shares of Citi Trends from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. MKM Partners raised shares of Citi Trends from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $32.00 in a report on Tuesday.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Friday, March 16th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The firm had revenue of $212.14 million during the quarter, compared to the consensus estimate of $211.00 million. Citi Trends had a net margin of 1.93% and a return on equity of 8.39%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. equities research analysts forecast that Citi Trends will post 1.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, March 5th. Citi Trends’s payout ratio is presently 31.37%.
Citi Trends declared that its Board of Directors has approved a stock repurchase plan on Friday, March 16th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Citi Trends by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,014 shares of the company’s stock valued at $276,000 after buying an additional 959 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Citi Trends by 5.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,218 shares of the company’s stock valued at $662,000 after buying an additional 1,501 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Citi Trends by 10.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 30,934 shares of the company’s stock valued at $819,000 after buying an additional 3,040 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Citi Trends in the 4th quarter valued at approximately $216,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Citi Trends in the 4th quarter valued at approximately $226,000. Institutional investors own 88.82% of the company’s stock.
About Citi Trends
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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