Caleres (NYSE:CAL) Updates FY 2022 Earnings Guidance

Posted by on Jun 21st, 2022

Caleres (NYSE:CAL – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. 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 have recently weighed in on the stock. Telsey Advisory Group lifted their price target on shares of Caleres to $32.00 in a research note on Wednesday, May 25th. TheStreet raised Caleres from a c+ rating to a b- rating in a report on Tuesday, May 24th. Finally, StockNews.com raised Caleres from a buy rating to a strong-buy rating in a research note on Monday, April 11th.

Shares of NYSE CAL opened at $26.64 on Tuesday. The stock has a market cap of $978.75 million, a PE ratio of 5.66 and a beta of 2.07. Caleres has a 1 year low of $17.82 and a 1 year high of $29.94. The firm has a fifty day moving average price of $24.93 and a 200-day moving average price of $22.88.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Shareholders of record on Friday, June 10th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.28 annualized dividend and a yield of 1.05%. Caleres’s payout ratio is 5.94%.

In other news, insider Daniel R. Freidman sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $26.61, for a total transaction of $159,660.00. Following the completion of the transaction, the insider now owns 69,498 shares in the company, valued at $1,849,341.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Diane M. Sullivan sold 35,915 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $27.27, for a total value of $979,402.05. Following the completion of the sale, the chief executive officer now owns 585,531 shares in the company, valued at $15,967,430.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,038 shares of company stock valued at $2,415,339. Insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Caleres by 0.6% in the first quarter. BlackRock Inc. now owns 5,968,696 shares of the textile maker’s stock worth $115,374,000 after purchasing an additional 36,096 shares during the period. Vanguard Group Inc. grew its holdings in Caleres by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 3,840,810 shares of the textile maker’s stock worth $74,243,000 after acquiring an additional 171,567 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Caleres by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,734,821 shares of the textile maker’s stock worth $33,535,000 after buying an additional 33,793 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Caleres by 2.2% during the first quarter. Neuberger Berman Group LLC now owns 798,318 shares of the textile maker’s stock valued at $15,443,000 after buying an additional 17,061 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Caleres by 25.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 696,668 shares of the textile maker’s stock worth $13,466,000 after acquiring an additional 140,453 shares in the last quarter. Institutional investors 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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