Q3 2018 Earnings Forecast for Caleres, Inc. Issued By Wedbush (CAL)
Caleres, Inc. (NYSE:CAL) – Research analysts at Wedbush decreased their Q3 2018 EPS estimates for Caleres in a research report issued on Wednesday. Wedbush analyst C. Svezia now expects that the textile maker will earn $0.85 per share for the quarter, down from their previous estimate of $0.90. Wedbush also issued estimates for Caleres’ Q4 2018 earnings at $0.46 EPS.
CAL has been the topic of several other research reports. Zacks Investment Research cut Caleres from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Susquehanna Bancshares Inc restated a “buy” rating and set a $31.00 price objective on shares of Caleres in a report on Tuesday. BidaskClub upgraded Caleres from a “sell” rating to a “hold” rating in a report on Friday, August 4th. TheStreet upgraded Caleres from a “c+” rating to a “b-” rating in a report on Thursday, July 27th. Finally, UBS AG upgraded Caleres from a “neutral” rating to a “positive” rating in a report on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $31.40.
Caleres (NYSE:CAL) opened at 27.77 on Thursday. Caleres has a 52 week low of $22.39 and a 52 week high of $36.61. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 19.75 and a beta of 1.06. The stock has a 50 day moving average price of $26.05 and a 200 day moving average price of $27.24.
Caleres (NYSE:CAL) last released its quarterly earnings data on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $677 million for the quarter, compared to analyst estimates of $668.85 million. Caleres had a return on equity of 13.80% and a net margin of 2.26%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, September 15th. Caleres’s dividend payout ratio (DPR) is presently 19.86%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Caleres by 45,530.3% in the first quarter. BlackRock Inc. now owns 5,242,013 shares of the textile maker’s stock valued at $138,493,000 after buying an additional 5,230,525 shares during the period. Alliancebernstein L.P. raised its position in Caleres by 13.6% in the second quarter. Alliancebernstein L.P. now owns 3,164,709 shares of the textile maker’s stock valued at $87,916,000 after buying an additional 379,868 shares during the period. Dimensional Fund Advisors LP raised its position in Caleres by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock valued at $99,676,000 after buying an additional 367,654 shares during the period. Opus Capital Group LLC bought a new position in Caleres during the first quarter valued at approximately $6,318,000. Finally, Schroder Investment Management Group bought a new position in Caleres during the second quarter valued at approximately $6,584,000. 86.31% of the stock is currently owned by institutional investors.
Caleres, 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. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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