Citi Trends (NASDAQ:CTRN) Releases FY 2022 Earnings Guidance

Citi Trends (NASDAQ:CTRN – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.050-$4.600 for the period. The company issued revenue guidance of -.Citi Trends also updated its Q1 2022 guidance to $0.150-$0.400 EPS.

Shares of CTRN opened at $31.70 on Tuesday. The company’s 50 day moving average is $37.73. Citi Trends has a 52 week low of $27.59 and a 52 week high of $111.44. The stock has a market capitalization of $269.45 million, a P/E ratio of 4.68 and a beta of 2.08.

Citi Trends (NASDAQ:CTRN – Get Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported $1.16 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $240.97 million for the quarter, compared to the consensus estimate of $241.80 million. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities research analysts forecast that Citi Trends will post 4.45 EPS for the current year.

CTRN has been the subject of a number of analyst reports. TheStreet cut shares of Citi Trends from a b- rating to a c+ rating in a research note on Thursday, February 17th. 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 research note on Thursday, February 10th. Zacks Investment Research cut shares of Citi Trends from a buy rating to a hold rating in a research note on Friday, March 18th. Telsey Advisory Group reduced their target price on shares of Citi Trends from $100.00 to $65.00 and set an outperform rating for the company in a research note on Wednesday, March 9th. Finally, 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 research note on Wednesday, March 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Citi Trends currently has an average rating of Buy and an average target price of $71.20.

Several institutional investors have recently modified their holdings of CTRN. Morgan Stanley lifted its stake in shares of Citi Trends by 120.5% in the third quarter. Morgan Stanley now owns 93,034 shares of the company’s stock worth $6,786,000 after buying an additional 50,839 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Citi Trends by 167.1% in the fourth quarter. Marshall Wace LLP now owns 79,135 shares of the company’s stock worth $7,499,000 after buying an additional 49,510 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Citi Trends by 399.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 22,295 shares of the company’s stock valued at $2,112,000 after purchasing an additional 17,834 shares during the last quarter. Wells Fargo & Company MN raised its stake in Citi Trends by 174.6% during the 4th quarter. Wells Fargo & Company MN now owns 24,390 shares of the company’s stock valued at $2,311,000 after purchasing an additional 15,508 shares during the last quarter. Finally, UBS Group AG raised its stake in Citi Trends by 18.7% during the 3rd quarter. UBS Group AG now owns 28,883 shares of the company’s stock valued at $2,107,000 after purchasing an additional 4,546 shares during the last quarter.

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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