Citi Trends (NASDAQ:CTRN) Issues Q1 2022 Earnings Guidance

Citi Trends (NASDAQ:CTRN – Get Rating) updated its first quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.150-$0.400 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.820. The company issued revenue guidance of $199.77 million-$214.04 million, compared to the consensus revenue estimate of $252.59 million.Citi Trends also updated its FY 2022 guidance to $4.050-$4.600 EPS.

A number of brokerages have recently commented on CTRN. Gordon Haskett cut shares of Citi Trends from a buy rating to an accumulate rating and reduced their target price for the company from $90.00 to $60.00 in a report on Thursday, February 10th. Craig Hallum reduced their target price on shares of Citi Trends from $100.00 to $80.00 and set a buy rating for the company in a report on Wednesday, March 16th. Zacks Investment Research cut shares of Citi Trends from a buy rating to a hold rating in a report on Friday, March 18th. TheStreet cut shares of Citi Trends from a b- rating to a c+ rating in a report on Thursday, February 17th. Finally, Telsey Advisory Group cut their price target on shares of Citi Trends from $100.00 to $65.00 and set an outperform rating for the company in a report on Wednesday, March 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Citi Trends presently has a consensus rating of Buy and an average price target of $71.20.

NASDAQ CTRN opened at $31.70 on Tuesday. The stock has a market capitalization of $269.45 million, a PE ratio of 4.68 and a beta of 2.08. Citi Trends has a 52-week low of $27.59 and a 52-week high of $111.44. The business’s 50-day moving average price is $37.73.

Citi Trends (NASDAQ:CTRN – Get Rating) last issued its earnings results on Tuesday, March 15th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.07. Citi Trends had a net margin of 6.28% and a return on equity of 46.72%. The company had revenue of $240.97 million for the quarter, compared to analyst estimates of $241.80 million. During the same period in the prior year, the business posted $1.81 earnings per share. On average, analysts expect that Citi Trends will post 4.45 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of CTRN. Barclays PLC grew its position in Citi Trends by 53.7% during the fourth quarter. Barclays PLC now owns 11,207 shares of the company’s stock worth $1,062,000 after buying an additional 3,914 shares during the period. JPMorgan Chase & Co. grew its position in Citi Trends by 13.4% during the fourth quarter. JPMorgan Chase & Co. now owns 15,735 shares of the company’s stock worth $1,491,000 after buying an additional 1,854 shares during the period. Wells Fargo & Company MN grew its position in Citi Trends by 197.1% during the second quarter. Wells Fargo & Company MN now owns 20,614 shares of the company’s stock worth $1,793,000 after buying an additional 13,676 shares during the period. UBS Group AG grew its position in Citi Trends by 18.7% during the third quarter. UBS Group AG now owns 28,883 shares of the company’s stock worth $2,107,000 after buying an additional 4,546 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Citi Trends by 399.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 22,295 shares of the company’s stock worth $2,112,000 after buying an additional 17,834 shares during the period.

Citi Trends Company Profile (Get Rating)

Citi Trends, Inc operates as a value-priced retailer of fashion apparel, accessories, and home goods. The company offers apparel, such as fashion sportswear and footwear for men and ladies, as well as kids, including newborns, infants, toddlers, boys, and girls; sleepwear, lingerie, and scrubs for ladies; and kids uniforms and accessories.

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