Caleres (NYSE:CAL) Announces Earnings Results, Beats Estimates By $0.02 EPS

Caleres (NYSE:CAL) posted its quarterly earnings data on Thursday. The textile maker reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.02, Briefing.com reports. Caleres had a return on equity of 8.62% and a net margin of 0.78%.During the same period in the previous year, the business posted $0.33 EPS. The company’s revenue was up 8.7% on a year-over-year basis.

Caleres Price Performance

Shares of Caleres stock opened at $8.81 on Thursday. The stock’s 50 day simple moving average is $12.09 and its 200-day simple moving average is $12.60. The stock has a market cap of $298.62 million, a P/E ratio of 13.98 and a beta of 0.64. Caleres has a 1-year low of $8.80 and a 1-year high of $18.27.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, March 26th. Caleres’s payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Caleres in a research report on Wednesday, January 21st. Zacks Research upgraded Caleres from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Caleres has an average rating of “Reduce” and a consensus target price of $14.00.

Institutional Trading of Caleres

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in shares of Caleres by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,363 shares of the textile maker’s stock worth $151,000 after acquiring an additional 693 shares during the last quarter. Barclays PLC boosted its position in shares of Caleres by 1.0% during the 4th quarter. Barclays PLC now owns 90,762 shares of the textile maker’s stock valued at $1,105,000 after acquiring an additional 926 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Caleres by 5.6% in the second quarter. Franklin Resources Inc. now owns 18,902 shares of the textile maker’s stock valued at $231,000 after purchasing an additional 1,007 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Caleres by 1,662.8% in the second quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 1,879 shares during the period. Finally, Prudential Financial Inc. increased its position in Caleres by 5.8% during the second quarter. Prudential Financial Inc. now owns 34,938 shares of the textile maker’s stock worth $427,000 after purchasing an additional 1,926 shares during the last quarter. 98.44% of the stock is currently 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.