Caleres (NYSE:CAL) Releases Earnings Results, Beats Expectations By $0.10 EPS

Caleres (NYSE:CAL) issued its quarterly earnings data on Thursday. The textile maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10, MarketWatch Earnings reports. Caleres had a net margin of 5.73% and a return on equity of 36.28%. The business had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $704.85 million. During the same period in the previous year, the company earned $1.38 earnings per share. Caleres’s revenue for the quarter was down 5.8% on a year-over-year basis. Caleres updated its FY24 guidance to $4.10-4.30 EPS.

Caleres Trading Up 7.1 %

Shares of NYSE CAL opened at $26.49 on Thursday. The firm has a market capitalization of $960.79 million, a price-to-earnings ratio of 5.42 and a beta of 1.88. Caleres has a one year low of $16.85 and a one year high of $28.50. The business has a fifty day simple moving average of $25.74 and a 200 day simple moving average of $23.88.

Caleres Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, September 7th. Caleres’s payout ratio is presently 6.14%.

Insider Buying and Selling

In other news, Director Carla C. Hendra sold 2,536 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $19.71, for a total value of $49,984.56. Following the completion of the transaction, the director now owns 2,493 shares in the company, valued at approximately $49,137.03. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Carla C. Hendra sold 2,536 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $19.71, for a total value of $49,984.56. Following the completion of the transaction, the director now owns 2,493 shares of the company’s stock, valued at $49,137.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Willis Hill sold 8,000 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $24.80, for a total transaction of $198,400.00. Following the completion of the transaction, the insider now directly owns 60,792 shares of the company’s stock, valued at approximately $1,507,641.60. The disclosure for this sale can be found here. Insiders sold a total of 16,336 shares of company stock valued at $393,385 over the last ninety days. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in shares of Caleres during the second quarter worth approximately $29,000. Acadian Asset Management LLC acquired a new stake in shares of Caleres during the first quarter worth approximately $32,000. Captrust Financial Advisors increased its holdings in shares of Caleres by 30.4% during the first quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock worth $106,000 after buying an additional 1,275 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Caleres during the fourth quarter worth approximately $143,000. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Caleres by 523.5% during the first quarter. Point72 Hong Kong Ltd now owns 9,191 shares of the textile maker’s stock worth $178,000 after buying an additional 7,717 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAL shares. StockNews.com started coverage on Caleres in a research report on Thursday, August 17th. They set a “hold” rating for the company. TheStreet raised Caleres from a “c+” rating to a “b” rating in a research report on Thursday, June 1st. Finally, Piper Sandler cut shares of Caleres from an “overweight” rating to a “neutral” rating and cut their target price for the company from $35.00 to $25.00 in a research note on Thursday, May 25th.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, Eastern Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products.