Caleres Inc. (CAL) Issues Quarterly Earnings Results
Caleres Inc. (NYSE:CAL) announced its quarterly earnings results on Tuesday. The company reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The business 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%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.80 EPS. Caleres updated its FY17 guidance to $2.00-2.10 EPS.
Caleres (NYSE:CAL) opened at 28.45 on Wednesday. Caleres has a 52 week low of $21.27 and a 52 week high of $31.75. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 15.05 and a beta of 0.52. The company has a 50 day moving average of $26.00 and a 200 day moving average of $25.12.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Caleres from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Morgan Stanley restated a “hold” rating and issued a $30.00 price objective on shares of Caleres in a report on Wednesday, September 7th. Finally, Susquehanna assumed coverage on shares of Caleres in a report on Friday, September 16th. They issued a “neutral” rating and a $25.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.67.
Several hedge funds have recently modified their holdings of CAL. Paradigm Asset Management Co. LLC raised 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 worth $103,000 after buying an additional 3,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Caleres by 408.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the company’s stock worth $122,000 after buying an additional 3,862 shares in the last quarter. PineBridge Investments L.P. raised 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 worth $134,000 after buying an additional 199 shares in the last quarter. Teacher Retirement System of Texas raised 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 worth $151,000 after buying an additional 1,159 shares in the last quarter. Finally, Quantbot Technologies LP raised 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 worth $172,000 after buying an additional 4,169 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.
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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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