Equities Analysts Offer Predictions for Caleres, Inc.’s Q3 2024 Earnings (NYSE:CAL)

Caleres, Inc. (NYSE:CAL – Get Rating) – Equities research analysts at Seaport Res Ptn issued their Q3 2024 earnings per share estimates for shares of Caleres in a research report issued to clients and investors on Tuesday, March 14th. Seaport Res Ptn analyst M. Kummetz forecasts that the textile maker will earn $1.10 per share for the quarter. The consensus estimate for Caleres’ current full-year earnings is $4.25 per share. Seaport Res Ptn also issued estimates for Caleres’ FY2024 earnings at $4.10 EPS and FY2025 earnings at $4.48 EPS.

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

CAL has been the subject of a number of other reports. Piper Sandler upgraded shares of Caleres from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $26.00 to $35.00 in a research note on Tuesday, February 21st. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Wednesday.

Caleres Price Performance

Caleres stock opened at $22.08 on Friday. The firm has a 50-day moving average of $24.69 and a 200-day moving average of $24.60. Caleres has a one year low of $18.98 and a one year high of $31.13. The company has a market cap of $786.49 million, a price-to-earnings ratio of 4.50 and a beta of 1.75.

Institutional Investors Weigh In On Caleres

Hedge funds have recently bought and sold shares of the stock. Dorsey Wright & Associates acquired a new stake in Caleres during the fourth quarter worth approximately $26,000. Lazard Asset Management LLC increased its holdings in shares of Caleres by 956.1% during the second quarter. Lazard Asset Management LLC now owns 1,299 shares of the textile maker’s stock worth $34,000 after purchasing an additional 1,176 shares during the period. USA Financial Portformulas Corp increased its holdings in shares of Caleres by 40.1% during the third quarter. USA Financial Portformulas Corp now owns 1,384 shares of the textile maker’s stock worth $34,000 after purchasing an additional 396 shares during the period. Assetmark Inc. increased its holdings in shares of Caleres by 35.6% during the third quarter. Assetmark Inc. now owns 2,183 shares of the textile maker’s stock worth $53,000 after purchasing an additional 573 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Caleres by 21.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,161 shares of the textile maker’s stock worth $115,000 after purchasing an additional 901 shares during the period. 87.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Caleres

In related news, insider Diane M. Sullivan sold 1,900 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $26.08, for a total value of $49,552.00. Following the completion of the sale, the insider now directly owns 158,336 shares in the company, valued at approximately $4,129,402.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Caleres news, insider Diane M. Sullivan sold 19,900 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 125,291 shares in the company, valued at $3,381,604.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Diane M. Sullivan sold 1,900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $26.08, for a total transaction of $49,552.00. Following the sale, the insider now owns 158,336 shares of the company’s stock, valued at $4,129,402.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,580 shares of company stock worth $659,476. Insiders own 4.90% of the company’s stock.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Thursday, March 23rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, March 22nd. This represents a $0.28 annualized dividend and a yield of 1.27%. Caleres’s dividend payout ratio (DPR) is currently 5.70%.

Caleres Company Profile

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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.