Caleres, Inc. to Post Q2 2024 Earnings of $1.31 Per Share, Telsey Advisory Group Forecasts (NYSE:CAL)

Caleres, Inc. (NYSE:CAL – Get Rating) – Analysts at Telsey Advisory Group lifted their Q2 2024 earnings per share (EPS) estimates for Caleres in a research report issued on Wednesday, March 15th. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will post earnings of $1.31 per share for the quarter, up from their previous estimate of $1.30. The consensus estimate for Caleres’ current full-year earnings is $4.25 per share. Telsey Advisory Group also issued estimates for Caleres’ Q4 2024 earnings at $0.70 EPS.

Caleres (NYSE:CAL – Get Rating) last posted its earnings results on Tuesday, March 14th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $696.40 million for the quarter, compared to analysts’ expectations of $691.56 million. Caleres had a return on equity of 42.45% and a net margin of 6.12%. Caleres’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share.

Several other analysts have also recently issued reports on CAL. StockNews.com cut Caleres from a “buy” rating to a “hold” rating in a research note on Wednesday. Piper Sandler raised Caleres from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $26.00 to $35.00 in a research report on Tuesday, February 21st.

Caleres Price Performance

NYSE CAL opened at $22.08 on Friday. The stock has a market capitalization of $786.49 million, a PE ratio of 4.50 and a beta of 1.75. Caleres has a 1 year low of $18.98 and a 1 year high of $31.13. The business’s 50-day moving average is $24.69 and its 200 day moving average is $24.60.

Hedge Funds Weigh In On Caleres

Hedge funds have recently added to or reduced their stakes in the company. Dorsey Wright & Associates purchased a new position in Caleres in the 4th quarter worth approximately $26,000. Lazard Asset Management LLC raised its holdings in Caleres by 956.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,299 shares of the textile maker’s stock worth $34,000 after acquiring an additional 1,176 shares during the last quarter. USA Financial Portformulas Corp raised its holdings in Caleres by 40.1% in the 3rd quarter. USA Financial Portformulas Corp now owns 1,384 shares of the textile maker’s stock worth $34,000 after acquiring an additional 396 shares during the last quarter. Assetmark Inc. raised its holdings in Caleres by 35.6% in the 3rd quarter. Assetmark Inc. now owns 2,183 shares of the textile maker’s stock worth $53,000 after acquiring an additional 573 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Caleres by 21.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,161 shares of the textile maker’s stock worth $115,000 after acquiring an additional 901 shares during the last quarter. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caleres

In other news, insider Diane M. Sullivan sold 19,900 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $26.99, for a total value of $537,101.00. Following the sale, the insider now directly owns 125,291 shares of the company’s stock, valued at approximately $3,381,604.09. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Diane M. Sullivan sold 19,900 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $26.99, for a total value of $537,101.00. Following the sale, the insider now directly owns 125,291 shares of the company’s stock, valued at approximately $3,381,604.09. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Diane M. Sullivan sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $26.20, for a total value of $39,300.00. Following the completion of the sale, the insider now directly owns 111,516 shares in the company, valued at $2,921,719.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,580 shares of company stock valued at $659,476. 4.90% of the stock is currently owned by corporate insiders.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, March 23rd will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, March 22nd. This represents a $0.28 annualized dividend and a yield of 1.27%. Caleres’s payout ratio 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.