Zacks: Analysts Expect Caleres (CAL) Will Post Earnings of $0.48 Per Share

Wall Street analysts expect Caleres (NYSE:CAL) to post earnings of $0.48 per share for the current quarter, according to Zacks. Two analysts have made estimates for Caleres’ earnings, with estimates ranging from $0.44 to $0.52. Caleres posted earnings per share of $0.40 in the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The firm is scheduled to report its next quarterly earnings results on Thursday, May 24th.

According to Zacks, analysts expect that Caleres will report full year earnings of $2.48 per share for the current year, with EPS estimates ranging from $2.46 to $2.50. For the next financial year, analysts expect that the firm will report earnings of $2.70 per share, with EPS estimates ranging from $2.65 to $2.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Caleres.

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Caleres (NYSE:CAL) last announced its earnings results on Tuesday, March 13th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $702.50 million for the quarter, compared to analyst estimates of $695.61 million. Caleres had a net margin of 3.13% and a return on equity of 14.01%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share.

A number of equities analysts have recently issued reports on CAL shares. UBS lowered shares of Caleres from a “positive” rating to a “neutral” rating in a research report on Tuesday, January 23rd. Susquehanna Bancshares restated a “neutral” rating and set a $33.00 target price (up from $32.00) on shares of Caleres in a research report on Tuesday, January 23rd. ValuEngine lowered shares of Caleres from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Friday, February 2nd. Finally, Wedbush restated an “outperform” rating and set a $35.00 target price on shares of Caleres in a research report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Caleres presently has an average rating of “Buy” and an average price target of $35.20.

In related news, insider Daniel R. Freidman sold 2,000 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $31.81, for a total transaction of $63,620.00. Following the completion of the sale, the insider now directly owns 91,733 shares of the company’s stock, valued at $2,918,026.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard M. Ausick sold 3,110 shares of the stock in a transaction on Monday, April 9th. The stock was sold at an average price of $34.78, for a total value of $108,165.80. Following the sale, the insider now directly owns 69,834 shares of the company’s stock, valued at $2,428,826.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,089 shares of company stock valued at $1,641,878. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CAL. Mosaic Family Wealth LLC acquired a new stake in shares of Caleres during the fourth quarter worth $140,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Caleres during the fourth quarter worth $201,000. Amalgamated Bank acquired a new stake in shares of Caleres during the fourth quarter worth $204,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Caleres during the fourth quarter worth $234,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Caleres by 440.0% during the third quarter. Cubist Systematic Strategies LLC now owns 10,362 shares of the textile maker’s stock worth $316,000 after purchasing an additional 8,443 shares during the period. 89.68% of the stock is owned by hedge funds and other institutional investors.

Shares of CAL traded down $0.26 during mid-day trading on Thursday, reaching $33.74. 210,978 shares of the company’s stock were exchanged, compared to its average volume of 330,239. The company has a current ratio of 1.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1,460.86, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. Caleres has a 52-week low of $22.39 and a 52-week high of $36.00.

The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 19th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, March 16th. Caleres’s dividend payout ratio is presently 12.96%.

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About Caleres

Caleres, Inc, a footwear company, retails and wholesales footwear. The company operates through Famous Footwear and Brand Portfolio segments. It offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children. The company operates retail shoe stores primarily under the Famous Footwear and Naturalizer names, which offer brand-name athletic, casual, and dress shoes, including company-owned and licensed brands, such as LifeStride, Dr.

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Earnings History and Estimates for Caleres (NYSE:CAL)

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