Caleres (NYSE:CAL) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Caleres (NYSE:CAL) issued its quarterly earnings data on Tuesday. The textile maker reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07, MarketWatch Earnings reports. Caleres had a net margin of 5.23% and a return on equity of 30.93%. The firm had revenue of $761.90 million for the quarter, compared to analyst estimates of $770.07 million. During the same period in the prior year, the business posted $1.15 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Caleres updated its FY24 guidance to $4.10-4.20 EPS.

Caleres Price Performance

CAL stock traded up $2.57 on Tuesday, hitting $30.05. 525,206 shares of the company were exchanged, compared to its average volume of 535,291. Caleres has a twelve month low of $16.85 and a twelve month high of $31.68. The business’s fifty day moving average is $26.92 and its two-hundred day moving average is $25.41. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 7.42 and a beta of 1.86.

Caleres Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, September 7th. Caleres’s dividend payout ratio (DPR) is 6.78%.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Caleres in a research note on Thursday, October 5th. They set a “buy” rating on the stock.

Insiders Place Their Bets

In related news, insider Diane M. Sullivan sold 14,707 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $27.13, for a total value of $399,000.91. Following the sale, the insider now owns 637,926 shares of the company’s stock, valued at approximately $17,306,932.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Daniel R. Freidman sold 5,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $28.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 76,311 shares in the company, valued at approximately $2,136,708. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diane M. Sullivan sold 14,707 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $27.13, for a total transaction of $399,000.91. Following the completion of the transaction, the insider now owns 637,926 shares of the company’s stock, valued at approximately $17,306,932.38. The disclosure for this sale can be found here. Insiders sold a total of 86,643 shares of company stock worth $2,383,329 over the last ninety days. 5.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caleres

A number of institutional investors and hedge funds have recently bought and sold shares of CAL. State of Wyoming bought a new position in shares of Caleres during the 2nd quarter valued at about $29,000. Acadian Asset Management LLC bought a new position in shares of Caleres during the 1st quarter valued at about $32,000. Captrust Financial Advisors boosted its position in shares of Caleres by 30.4% during the 1st quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 1,275 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Caleres during the 4th quarter valued at about $143,000. Finally, Mariner LLC bought a new position in shares of Caleres during the 3rd quarter valued at about $206,000. Institutional investors own 88.44% of the company’s stock.

Caleres Company Profile

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.