Caleres (NYSE:CAL) Issues FY24 Earnings Guidance

Caleres (NYSE:CAL – Get Rating) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.10-4.30 for the period, compared to the consensus EPS estimate of $4.18. The company issued revenue guidance of flat to up 2% yr/yr to ~$2.97-3.03 billion, compared to the consensus revenue estimate of $2.98 billion. Caleres also updated its FY 2023 guidance to $4.10-$4.30 EPS.

Caleres Stock Performance

Shares of NYSE:CAL opened at $23.35 on Friday. The stock has a market capitalization of $831.63 million, a price-to-earnings ratio of 4.76 and a beta of 1.75. Caleres has a 1-year low of $18.98 and a 1-year high of $31.13. The company’s fifty day moving average is $24.71 and its two-hundred day moving average is $24.63.

Caleres (NYSE:CAL – Get Rating) last issued its earnings results on Tuesday, March 14th. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Caleres had a net margin of 5.92% and a return on equity of 48.52%. The company had revenue of $696.40 million for the quarter, compared to analysts’ expectations of $691.56 million. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Caleres will post 4.2 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Thursday, March 23rd will be issued a $0.07 dividend. The ex-dividend date is Wednesday, March 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.20%. Caleres’s dividend payout ratio (DPR) is presently 5.70%.

Wall Street Analysts Forecast Growth

CAL has been the topic of a number of analyst reports. CL King dropped their price objective on shares of Caleres from $37.00 to $35.00 in a report on Thursday, November 17th. Piper Sandler raised shares of Caleres from a neutral rating to an overweight rating and increased their price objective for the stock from $26.00 to $35.00 in a report on Tuesday, February 21st. Finally, StockNews.com cut shares of Caleres from a buy rating to a hold rating in a report on Wednesday.

Insider Buying and Selling at Caleres

In other Caleres news, insider Diane M. Sullivan sold 19,900 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $26.99, for a total transaction of $537,101.00. Following the transaction, the insider now owns 125,291 shares of the company’s stock, valued at approximately $3,381,604.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Caleres news, insider Diane M. Sullivan sold 1,900 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $26.08, for a total transaction of $49,552.00. Following the transaction, the insider now owns 158,336 shares of the company’s stock, valued at approximately $4,129,402.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Diane M. Sullivan sold 19,900 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $26.99, for a total transaction of $537,101.00. Following the transaction, the insider now directly owns 125,291 shares in the company, valued at approximately $3,381,604.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,580 shares of company stock valued at $659,476. Company insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Caleres

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in shares of Caleres by 30.4% during the 1st quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 1,275 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Caleres during the 4th quarter valued at about $143,000. Point72 Hong Kong Ltd boosted its position in shares of Caleres by 523.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 9,191 shares of the textile maker’s stock valued at $178,000 after purchasing an additional 7,717 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Caleres during the 1st quarter valued at about $255,000. Finally, Twinbeech Capital LP bought a new position in shares of Caleres during the 3rd quarter valued at about $268,000. Institutional investors own 87.46% of the company’s stock.

Caleres Company Profile

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Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.