Caleres Inc. (CAL) Trading Down 2.3%
Caleres Inc. (NYSE:CAL) fell 2.3% during mid-day trading on Tuesday . The stock traded as low as $24.49 and last traded at $24.57, with a volume of 143,489 shares traded. The stock had previously closed at $25.16.
Several research firms have recently issued reports on CAL. Zacks Investment Research cut shares of Caleres from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Sterne Agee CRT reaffirmed a “buy” rating and set a $30.00 price objective on shares of Caleres in a research report on Friday, May 27th. Morgan Stanley reaffirmed a “hold” rating and set a $30.00 price objective on shares of Caleres in a research report on Wednesday, September 7th. BB&T Corp. reaffirmed a “buy” rating and set a $28.00 price objective (up from $26.00) on shares of Caleres in a research report on Saturday, June 11th. Finally, Susquehanna began coverage on shares of Caleres in a research report on Friday. They set a “neutral” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.67.
The company has a 50 day moving average of $25.16 and a 200 day moving average of $25.41. The company has a market cap of $1.06 billion, a PE ratio of 13.12 and a beta of 0.89.
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Caleres (NYSE:CAL) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by $0.04. Caleres had a return on equity of 13.87% and a net margin of 3.26%. The company had revenue of $622.94 million for the quarter, compared to analyst estimates of $638.71 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts predict that Caleres Inc. will post $0.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 15th. Caleres’s payout ratio is currently 14.66%.
Several large investors have recently added to or reduced their stakes in CAL. PineBridge Investments L.P. raised its stake in Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock valued at $134,000 after buying an additional 199 shares during the last quarter. Arizona State Retirement System increased its position in shares of Caleres by 0.9% in the second quarter. Arizona State Retirement System now owns 22,642 shares of the company’s stock valued at $548,000 after buying an additional 200 shares during the period. US Bancorp DE increased its position in shares of Caleres by 2.2% in the second quarter. US Bancorp DE now owns 10,500 shares of the company’s stock valued at $254,000 after buying an additional 225 shares during the period. Clark Capital Management Group Inc. increased its position in shares of Caleres by 1.7% in the first quarter. Clark Capital Management Group Inc. now owns 20,966 shares of the company’s stock valued at $593,000 after buying an additional 358 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Caleres by 4.0% in the second quarter. Royal Bank of Canada now owns 9,517 shares of the company’s stock valued at $230,000 after buying an additional 364 shares during the period. 84.67% of the stock is owned by institutional investors.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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