Caleres Inc. (NYSE:CAL) – Stock analysts at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for shares of Caleres in a research report issued to clients and investors on Tuesday. Jefferies Group analyst R. Konik now forecasts that the brokerage will post earnings of $0.83 per share for the quarter, down from their previous forecast of $0.87. Jefferies Group also issued estimates for Caleres’ FY2017 earnings at $2.02 EPS and FY2018 earnings at $2.27 EPS.

A number of other research analysts have also commented on the company. Zacks Investment Research raised Caleres from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Susquehanna initiated coverage on Caleres in a report on Friday, September 16th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Caleres in a report on Wednesday, September 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.67.

Earnings History and Estimates for Caleres (NYSE:CAL)

Shares of Caleres (NYSE:CAL) traded up 1.87% during mid-day trading on Wednesday, reaching $26.63. The company had a trading volume of 104,793 shares. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 14.09 and a beta of 0.80. Caleres has a 52-week low of $21.27 and a 52-week high of $31.82. The firm’s 50-day moving average price is $25.31 and its 200 day moving average price is $25.14.

Caleres (NYSE:CAL) last announced its earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The business earned $622.94 million during the quarter, compared to analyst estimates of $638.71 million. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share.

Several hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in shares of Caleres by 18.1% in the second quarter. Alliancebernstein L.P. now owns 2,782,158 shares of the company’s stock valued at $67,356,000 after buying an additional 426,251 shares in the last quarter. Royce & Associates LP increased its stake in shares of Caleres by 210.6% in the second quarter. Royce & Associates LP now owns 604,078 shares of the company’s stock valued at $14,625,000 after buying an additional 409,600 shares in the last quarter. Hillcrest Asset Management LLC acquired a new stake in shares of Caleres during the first quarter valued at $6,964,000. Renaissance Technologies LLC increased its stake in shares of Caleres by 124.0% in the first quarter. Renaissance Technologies LLC now owns 431,150 shares of the company’s stock valued at $12,197,000 after buying an additional 238,700 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Caleres during the second quarter valued at $4,152,000. Hedge funds and other institutional investors own 85.60% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, September 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. Caleres’s payout ratio is 14.66%.

About Caleres

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.

5 Day Chart for NYSE:CAL

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