Caleres (NYSE:CAL) Updates FY 2022 Earnings Guidance

Posted by on Jun 7th, 2022

Caleres (NYSE:CAL – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.20-$4.40 for the period, compared to the consensus earnings per share estimate of $3.92. The company issued revenue guidance of $2.83 billion-$2.92 billion, compared to the consensus revenue estimate of $2.88 billion.

Several research analysts recently commented on the company. Telsey Advisory Group increased their price target on Caleres to $32.00 in a research report on Wednesday, May 25th. Zacks Investment Research raised Caleres from a hold rating to a strong-buy rating and set a $31.00 price target for the company in a research report on Thursday, May 26th. TheStreet raised Caleres from a c+ rating to a b- rating in a research report on Tuesday, May 24th. Finally, StockNews.com raised Caleres from a buy rating to a strong-buy rating in a research report on Monday, April 11th.

NYSE:CAL opened at $28.80 on Tuesday. The stock’s 50 day moving average price is $23.53 and its two-hundred day moving average price is $22.74. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 6.11 and a beta of 2.07. Caleres has a 12-month low of $17.82 and a 12-month high of $29.94.

Caleres (NYSE:CAL – Get Rating) last announced its earnings results on Tuesday, May 24th. The textile maker reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.49. The company had revenue of $735.12 million for the quarter, compared to analyst estimates of $677.28 million. Caleres had a return on equity of 62.60% and a net margin of 6.31%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, equities research analysts forecast that Caleres will post 4.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Friday, June 10th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, June 9th. Caleres’s dividend payout ratio (DPR) is 5.94%.

In related news, insider Daniel R. Freidman sold 6,000 shares of Caleres stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $26.61, for a total value of $159,660.00. Following the sale, the insider now owns 69,498 shares of the company’s stock, valued at approximately $1,849,341.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd E. Hasty bought 2,500 shares of the stock in a transaction on Thursday, March 17th. The shares were acquired at an average cost of $21.00 per share, for a total transaction of $52,500.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 58,384 shares of company stock valued at $1,503,570. Corporate insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of Caleres by 1.6% during the fourth quarter. Barclays PLC now owns 44,747 shares of the textile maker’s stock worth $1,015,000 after purchasing an additional 725 shares during the period. California State Teachers Retirement System boosted its holdings in Caleres by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 52,223 shares of the textile maker’s stock worth $1,184,000 after purchasing an additional 1,036 shares during the last quarter. Captrust Financial Advisors boosted its stake 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 worth $106,000 after acquiring an additional 1,275 shares during the last quarter. UBS Group AG boosted its stake in shares of Caleres by 1.4% during the 3rd quarter. UBS Group AG now owns 118,748 shares of the textile maker’s stock worth $2,639,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Caleres by 6.3% during the 1st quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock worth $706,000 after acquiring an additional 2,172 shares during the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.

Caleres Company Profile (Get Rating)

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children.

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