Caleres, Inc. (NYSE:CAL) released its earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03, Bloomberg Earnings reports. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $668.85 million. Caleres had a return on equity of 13.80% and a net margin of 2.26%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. Caleres updated its FY18 guidance to $2.10-2.20 EPS.
Shares of Caleres (NYSE:CAL) traded up 2.09% during midday trading on Wednesday, reaching $28.86. The company’s stock had a trading volume of 55,975 shares. Caleres has a 12 month low of $22.39 and a 12 month high of $36.61. The company has a 50-day moving average price of $26.12 and a 200-day moving average price of $27.08. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 20.48 and a beta of 1.06.
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 given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.99%. Caleres’s payout ratio is currently 19.86%.
Several equities research analysts recently commented on CAL shares. BidaskClub cut Caleres from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research cut Caleres from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS AG raised Caleres from a “neutral” rating to a “positive” rating in a research report on Tuesday, May 30th. Finally, TheStreet raised 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 issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $31.40.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Caleres by 6.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,220,362 shares of the textile maker’s stock worth $85,084,000 after acquiring an additional 193,349 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Caleres by 0.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 81,921 shares of the textile maker’s stock worth $2,164,000 after acquiring an additional 338 shares during the period. Bank of America Corp DE boosted its stake in shares of Caleres by 30.0% during the 1st quarter. Bank of America Corp DE now owns 343,326 shares of the textile maker’s stock worth $9,071,000 after acquiring an additional 79,330 shares during the period. Karp Capital Management Corp bought a new position in shares of Caleres during the 1st quarter worth approximately $225,000. Finally, UBS Group AG boosted its stake in shares of Caleres by 283.4% during the 1st quarter. UBS Group AG now owns 28,204 shares of the textile maker’s stock worth $746,000 after acquiring an additional 20,847 shares during the period. Institutional investors own 86.31% of the company’s stock.
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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.
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