Caleres Inc (NYSE:CAL) – Wedbush lifted their Q2 2019 earnings per share (EPS) estimates for Caleres in a research report issued on Wednesday, August 29th. Wedbush analyst C. Svezia now expects that the textile maker will post earnings per share of $0.57 for the quarter, up from their prior forecast of $0.54. Wedbush currently has a “Outperform” rating and a $42.00 target price on the stock. Wedbush also issued estimates for Caleres’ Q3 2019 earnings at $0.92 EPS, FY2019 earnings at $2.50 EPS and FY2020 earnings at $2.69 EPS.

CAL has been the subject of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Caleres in a research report on Thursday, June 28th. Zacks Investment Research raised shares of Caleres from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Tuesday, May 8th. ValuEngine raised shares of Caleres from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, Loop Capital initiated coverage on shares of Caleres in a research report on Thursday, June 7th. They set a “hold” rating and a $37.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Caleres currently has an average rating of “Hold” and an average price target of $37.33.

Shares of CAL opened at $40.05 on Friday. Caleres has a fifty-two week low of $24.37 and a fifty-two week high of $40.46. The company has a market capitalization of $1.65 billion, a PE ratio of 18.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.97 and a quick ratio of 0.65.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, May 31st. The textile maker reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). Caleres had a return on equity of 13.70% and a net margin of 3.21%. The business had revenue of $632.10 million during the quarter, compared to analysts’ expectations of $644.99 million. During the same period in the previous year, the company posted $0.40 EPS. Caleres’s revenue for the quarter was up .1% on a year-over-year basis.

A number of large investors have recently bought and sold shares of CAL. Franklin Resources Inc. lifted its position in Caleres by 61.4% during the first quarter. Franklin Resources Inc. now owns 2,200,691 shares of the textile maker’s stock valued at $73,943,000 after acquiring an additional 836,772 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in Caleres during the second quarter valued at approximately $26,935,000. BlackRock Inc. lifted its position in Caleres by 8.3% during the second quarter. BlackRock Inc. now owns 5,880,651 shares of the textile maker’s stock valued at $202,236,000 after acquiring an additional 451,535 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Caleres in the second quarter worth $12,885,000. Finally, Millennium Management LLC raised its holdings in shares of Caleres by 526.1% in the first quarter. Millennium Management LLC now owns 406,327 shares of the textile maker’s stock worth $13,653,000 after buying an additional 341,428 shares during the last quarter. 90.24% of the stock is owned by institutional investors.

In related news, CEO Diane M. Sullivan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $38.28, for a total transaction of $765,600.00. Following the completion of the sale, the chief executive officer now owns 473,534 shares of the company’s stock, valued at $18,126,881.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas Koch sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. Following the sale, the insider now directly owns 97,501 shares of the company’s stock, valued at approximately $3,705,038. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.70%. Caleres’s payout ratio is 12.96%.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

Further Reading: Leveraged Buyout (LBO)

Earnings History and Estimates for Caleres (NYSE:CAL)

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