Caleres Inc. to Post Q3 2017 Earnings of $0.80 Per Share, Northcoast Research Forecasts (CAL)
Caleres Inc. (NYSE:CAL) – Equities researchers at Northcoast Research decreased their Q3 2017 EPS estimates for shares of Caleres in a research report issued to clients and investors on Thursday. Northcoast Research analyst J. Stein now anticipates that the firm will earn $0.80 per share for the quarter, down from their prior estimate of $0.85. Northcoast Research also issued estimates for Caleres’ Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.48 EPS and Q2 2018 earnings at $0.55 EPS.
Caleres (NYSE:CAL) last announced its quarterly earnings data on Tuesday, August 30th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The company had revenue of $622.94 million for the quarter, compared to the consensus estimate of $638.71 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Caleres from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. BB&T Corp. reaffirmed a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of Caleres in a report on Saturday, June 11th. Susquehanna started coverage on shares of Caleres in a report on Friday, September 16th. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $30.00 target price on shares of Caleres in a report on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Caleres has a consensus rating of “Hold” and a consensus price target of $27.67.
Shares of Caleres (NYSE:CAL) traded up 0.19% on Friday, hitting $26.07. The stock had a trading volume of 307,027 shares. The stock has a market cap of $1.12 billion, a PE ratio of 13.79 and a beta of 0.80. The company has a 50 day moving average price of $25.29 and a 200-day moving average price of $25.16. Caleres has a 12 month low of $21.27 and a 12 month high of $31.82.
A number of hedge funds have recently made changes to their positions in the company. Paradigm Asset Management Co. LLC boosted its stake in shares of Caleres by 466.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares during the last quarter. PineBridge Investments L.P. boosted its stake in shares of Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock valued at $134,000 after buying an additional 199 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Caleres by 22.8% in the second quarter. Teacher Retirement System of Texas now owns 6,250 shares of the company’s stock valued at $151,000 after buying an additional 1,159 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock valued at $172,000 after buying an additional 4,169 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new stake in shares of Caleres during the second quarter valued at about $207,000. Institutional investors and hedge funds own 85.60% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, September 15th. Caleres’s payout ratio is currently 14.66%.
Caleres Company Profile
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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