Caleres, Inc. (CAL) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Caleres, Inc. (NYSE:CAL) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other analysts have also recently commented on CAL. Zacks Investment Research cut Caleres from a hold rating to a sell rating in a research report on Thursday, May 25th. UBS AG upgraded Caleres from a neutral rating to a positive rating in a research report on Tuesday, May 30th. Susquehanna Bancshares Inc upgraded Caleres from a neutral rating to a positive rating and set a $31.00 price target for the company in a research report on Tuesday, May 30th. Finally, TheStreet upgraded Caleres from a c+ rating to a b- rating in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $31.40.

Shares of Caleres (NYSE CAL) traded up 4.12% during midday trading on Friday, reaching $26.30. 567,568 shares of the company’s stock traded hands. Caleres has a one year low of $22.39 and a one year high of $36.61. The stock’s 50-day moving average price is $26.13 and its 200 day moving average price is $27.40. The firm has a market capitalization of $1.13 billion, a PE ratio of 18.03 and a beta of 1.07.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, May 25th. The textile maker reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Caleres had a return on equity of 13.80% and a net margin of 2.39%. The firm had revenue of $631.50 million during the quarter, compared to analysts’ expectations of $621.31 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Caleres will post $2.18 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, September 15th. Caleres’s payout ratio is currently 19.18%.

Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Caleres by 7.8% in the first quarter. BNP Paribas Arbitrage SA now owns 12,457 shares of the textile maker’s stock valued at $329,000 after buying an additional 896 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Caleres by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 657,535 shares of the textile maker’s stock valued at $17,372,000 after buying an additional 25,941 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Caleres by 0.7% in the first quarter. American Century Companies Inc. now owns 47,556 shares of the textile maker’s stock valued at $1,256,000 after buying an additional 343 shares during the last quarter. LSV Asset Management boosted its stake in shares of Caleres by 18.8% in the first quarter. LSV Asset Management now owns 30,900 shares of the textile maker’s stock valued at $816,000 after buying an additional 4,900 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Caleres by 5.6% in the first quarter. Great West Life Assurance Co. Can now owns 59,479 shares of the textile maker’s stock valued at $1,571,000 after buying an additional 3,131 shares during the last quarter. Institutional investors own 83.92% of the company’s stock.

Caleres Company Profile

Caleres, 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. The Company operates through two segments: Famous Footwear and Brand Portfolio.