On Wednesday, Citi Trends (NASDAQ:CTRN) released the financial results for its most recent fiscal quarter. The company’s earnings per share (EPS) for the quarter came in at $0.31, which was much lower than the consensus forecast of $0.19 among market analysts. Fidelity Earnings provided this information. The return on equity for the company was 27.43 percent, while the net margin for the company was 6.73 percent.
The company reported $1.36 per share earnings for the same quarter in the prior year’s financial statements. Price Movements and Their Impact According to Citi Trends, NASDAQ:CTRN shares were initially offered for sale on Thursday at a price of $24.82 per share. The enterprise has a beta value of 1.96 and a price-to-earnings ratio of 3.48. The company currently has a market capitalization of $208.49 million.
Throughout the previous twelve months, the price of Citi Trends ranged from a low of $20.42 to a high of $97.46. The simple moving average of the company’s stock price over the previous 50 days is $25.63, and the standard for the last 200 days is $30.39. Citi Trends, etc. The consensus of viewpoints expressed by institutional investors is that in the most recent few months, several hedge funds and institutional investors have been seen to rebalance their CTRN holdings to reflect new investment ideas.
Point72 Hong Kong Ltd. boosted its holdings in Citi Trends by 430.5% over the course of the first three months of the year. Point72 Hong Kong Ltd now has a total of 2,727 shares in the firm, which it acquired by purchasing an additional 2,213 shares over the preceding quarter for a total of 2,727. At the price that they are trading at right now, these shares have a market value of $84,000.
During the first three months of the year, MetLife Investment Management LLC grew its holdings of Citi Trends stock by 45.4% relative to the previous quarter’s total. As a result of the acquisition of 1,564 additional shares during the most recent quarter, MetLife Investment Management LLC now directly owns 5,006 shares in the company.
These shares have a value of $153,000 and give the firm a market capitalization of Quantbot Technologies LP acquired a new investment in Citi Trends during the first three months of 2018, the value of which was close to USD 164,000. The Bank of Montreal increased its stake in Citi Trends by 252,000 dollars during the second quarter, bringing its total investment in the company to 500,000 dollars.
During the second quarter, Rhumbline Advisers increased the percentage of Citi Trends shares that it owned by 36.4%. Rhumbline Advisers was not going to be outdone. During the relevant time frame, Rhumbline Advisers increased their company stock holdings by an additional 3,331, bringing their total purchase of shares to 12,470, with a value of $295,000.
Several research analysts have produced variations in the Opinions of Analysts Recent reports on CTRN shares. Recent publications include these scholarly works. In a research report released on Friday, May 20, Craig Hallum lowered their price objective for the company from $80.00 to $34.00 and downgraded Citi Trends from a “buy” rating to a “hold” rating. Both of these moves were made regarding the company’s stock. The price objective for Citi Trends that Telsey Advisory Group gave in a research note posted on May 25 has been lowered to $45.00. The message was released on May 25.
The last stage of this procedure was Benchmark lowering their price target on shares of Citi Trends to $50.00 in a research report that was distributed on May 25. There have been a total of three analysts who have provided a recommendation to buy the stock, while there have been a total of two analysts who have provided a proposal to hold the stock.
Bloomberg reports that the company is currently rated with an average of “Moderate Buy” and is aiming for a price of $47.25 shortly. Citi Trends was consulted for the collection of the observations and data. Citi Trends, Inc. is a cheap retailer that sells a wide range of products, such as apparel, accessories, and household goods. It offers clothing for people of both sexes, such as fashionable athletic wear and footwear, as well as items for children, such as clothing for newborns, babies, toddlers, boys, and girls; lingerie, scrubs, and sleepwear for women; and uniforms and accessories for children. In addition, it offers items for adults, such as trendy athletic wear and footwear. In addition, it is a retailer of products for adults, such as stylish athletic gear and footwear.