Caleres (NYSE:CAL) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Caleres (NYSE:CAL) from a hold rating to a strong sell rating in a report published on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Caleres in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Caleres currently has a consensus rating of “Sell” and a consensus target price of $14.00.

Caleres Trading Up 0.3%

CAL opened at $12.34 on Wednesday. The stock’s 50-day moving average price is $12.94 and its 200 day moving average price is $13.33. Caleres has a 12-month low of $9.54 and a 12-month high of $19.42. The firm has a market cap of $418.16 million, a price-to-earnings ratio of 19.58 and a beta of 0.65.

Caleres (NYSE:CAL) last released its earnings results on Tuesday, December 9th. The textile maker reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.08). The firm had revenue of $790.05 million during the quarter, compared to analyst estimates of $768.59 million. Caleres had a net margin of 0.78% and a return on equity of 8.62%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. On average, research analysts forecast that Caleres will post 3.23 earnings per share for the current year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a $0.07 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.28 dividend on an annualized basis and a yield of 2.3%. Caleres’s payout ratio is currently 44.44%.

Institutional Investors Weigh In On Caleres

Large investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Caleres by 8.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,593 shares of the textile maker’s stock worth $877,000 after purchasing an additional 5,439 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in Caleres in the fourth quarter valued at $1,141,000. SG Americas Securities LLC lifted its holdings in Caleres by 229.1% during the 4th quarter. SG Americas Securities LLC now owns 162,932 shares of the textile maker’s stock worth $1,983,000 after buying an additional 113,426 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of Caleres during the 3rd quarter worth about $168,000. Finally, Mariner LLC increased its holdings in shares of Caleres by 23.1% in the 3rd quarter. Mariner LLC now owns 72,134 shares of the textile maker’s stock valued at $941,000 after acquiring an additional 13,544 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

About Caleres

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.