Caleres Inc. (CAL) Hits New 52-Week High Following Earnings Beat
Caleres Inc. (NYSE:CAL) shares reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $31.99 and last traded at $31.83, with a volume of 1,210,212 shares changing hands. The stock had previously closed at $28.45.
The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The company earned $732.20 million during the quarter, compared to analysts’ expectations of $734.09 million. Caleres had a net margin of 3.26% and a return on equity of 13.87%. Caleres’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS.
A number of research firms recently commented on CAL. Zacks Investment Research upgraded shares of Caleres from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Morgan Stanley restated a “hold” rating and set a $30.00 price objective on shares of Caleres in a research note on Wednesday, September 7th. Susquehanna started coverage on shares of Caleres in a research note on Friday, September 16th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Jefferies Group restated a “hold” rating and set a $27.00 price objective on shares of Caleres in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Caleres presently has a consensus rating of “Hold” and a consensus target price of $28.17.
Institutional investors have recently bought and sold shares of the stock. Paradigm Asset Management Co. LLC raised its position in 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 period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Caleres by 408.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the company’s stock valued at $122,000 after buying an additional 3,862 shares during the period. PineBridge Investments L.P. raised its position in 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 during the period. Teacher Retirement System of Texas raised its position in 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 during the period. Finally, Quantbot Technologies LP raised its position in 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 during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.
The firm’s 50-day moving average is $26.00 and its 200-day moving average is $25.12. The stock has a market capitalization of $1.37 billion, a PE ratio of 16.85 and a beta of 0.52.
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.
Receive News & Stock Ratings for Caleres Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caleres Inc. and related stocks with our FREE daily email newsletter.