Citi Trends (CTRN) Issues FY19 Earnings Guidance

Citi Trends (NASDAQ:CTRN) updated its FY19 earnings guidance on Friday. The company provided earnings per share guidance of $1.55-1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.50. The company issued revenue guidance of $777.9-785.5 (+3-4%), compared to the consensus revenue estimate of $777.10 million.

A number of analysts have recently weighed in on the stock. MKM Partners upgraded shares of Citi Trends from a neutral rating to a buy rating and increased their price objective for the stock from $25.00 to $32.00 in a research note on Tuesday, March 20th. BidaskClub upgraded shares of Citi Trends from a sell rating to a hold rating in a research note on Thursday, March 15th.

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NASDAQ CTRN traded up $0.18 during mid-day trading on Friday, reaching $32.00. 113,651 shares of the stock were exchanged, compared to its average volume of 182,416. Citi Trends has a 1 year low of $15.54 and a 1 year high of $32.30. The company has a market capitalization of $439.68, a PE ratio of 25.40 and a beta of 0.22.

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 Thomson Reuters’ consensus estimate of $0.44 by $0.06. The business had revenue of $212.14 million for 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 company’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. equities analysts predict that Citi Trends will post 1.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.00%. The ex-dividend date was Monday, March 5th. Citi Trends’s payout ratio is 25.40%.

Citi Trends declared that its board has authorized a stock buyback program on Friday, March 16th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In related news, SVP Christina Short sold 2,752 shares of the firm’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $30.91, for a total transaction of $85,064.32. Following the completion of the sale, the senior vice president now directly owns 50,078 shares in the company, valued at $1,547,910.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ivy D. Council sold 4,156 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $30.71, for a total transaction of $127,630.76. Following the sale, the vice president now owns 80,984 shares of the company’s stock, valued at $2,487,018.64. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

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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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