Caleres, Inc. (NYSE:CAL) Expected to Earn Q1 2024 Earnings of $0.95 Per Share

Caleres, Inc. (NYSE:CAL – Get Rating) – Telsey Advisory Group decreased their Q1 2024 EPS estimates for Caleres in a report issued on Wednesday, March 15th. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will post earnings per share of $0.95 for the quarter, down from their prior forecast of $1.14. The consensus estimate for Caleres’ current full-year earnings is $4.20 per share. Telsey Advisory Group also issued estimates for Caleres’ Q3 2024 earnings at $1.29 EPS, FY2024 earnings at $4.25 EPS and FY2025 earnings at $4.65 EPS.

Caleres (NYSE:CAL – Get Rating) last issued its earnings results on Tuesday, March 14th. The textile maker reported $0.65 EPS for the quarter, beating 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 business had revenue of $696.40 million for the quarter, compared to the consensus estimate of $691.56 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year.

A number of other equities analysts also recently commented on CAL. Piper Sandler raised shares of Caleres from a “neutral” rating to an “overweight” rating and raised their target price for the company from $26.00 to $35.00 in a research note on Tuesday, February 21st. CL King cut their target price on shares of Caleres from $37.00 to $35.00 in a research note on Thursday, November 17th. Finally, StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Wednesday.

Caleres Trading Down 0.5 %

Shares of CAL stock opened at $23.35 on Thursday. The company’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $24.63. Caleres has a 52 week low of $18.98 and a 52 week high of $31.13. The company has a market cap of $831.63 million, a PE ratio of 4.76 and a beta of 1.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAL. Moneta Group Investment Advisors LLC boosted its holdings in shares of Caleres by 108,172.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,231,553 shares of the textile maker’s stock valued at $718,119,000 after buying an additional 32,201,784 shares during the period. BlackRock Inc. boosted its holdings in shares of Caleres by 0.6% in the 1st quarter. BlackRock Inc. now owns 5,968,696 shares of the textile maker’s stock valued at $115,374,000 after buying an additional 36,096 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Caleres by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 3,840,810 shares of the textile maker’s stock valued at $74,243,000 after buying an additional 171,567 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Caleres by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,765,144 shares of the textile maker’s stock valued at $39,326,000 after buying an additional 81,847 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its holdings in shares of Caleres by 16.8% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,040,100 shares of the textile maker’s stock valued at $23,173,000 after buying an additional 149,400 shares during the period. 87.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Caleres Announces Dividend

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

About Caleres

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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.