Brokerages Expect Caleres, Inc. (NYSE:CAL) Will Post Quarterly Sales of $675.00 Million

Equities analysts expect Caleres, Inc. (NYSE:CALGet Rating) to post sales of $675.00 million for the current quarter, according to Zacks. Two analysts have issued estimates for Caleres’ earnings, with the lowest sales estimate coming in at $662.00 million and the highest estimate coming in at $688.00 million. Caleres reported sales of $638.64 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Caleres will report full-year sales of $2.89 billion for the current year. For the next fiscal year, analysts forecast that the firm will post sales of $2.97 billion, with estimates ranging from $2.92 billion to $3.01 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Caleres.

Caleres (NYSE:CALGet Rating) last issued its quarterly earnings data on Tuesday, March 15th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.24. Caleres had a net margin of 4.93% and a return on equity of 61.12%. The firm had revenue of $679.28 million for the quarter, compared to the consensus estimate of $680.15 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year.

A number of brokerages have recently issued reports on CAL. StockNews.com downgraded shares of Caleres from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 28th. Zacks Investment Research cut shares of Caleres from a “buy” rating to a “hold” rating in a research note on Tuesday, March 15th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.00.

In other Caleres news, CAO Todd E. Hasty acquired 2,500 shares of the firm’s stock in a transaction on Thursday, March 17th. The stock was acquired at an average cost of $21.00 per share, for a total transaction of $52,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Todd E. Hasty acquired 3,300 shares of the firm’s stock in a transaction on Friday, January 14th. The shares were acquired at an average price of $22.69 per share, with a total value of $74,877.00. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Twinbeech Capital LP acquired a new position in shares of Caleres in the 3rd quarter valued at $231,000. Wellington Management Group LLP acquired a new position in shares of Caleres in the 3rd quarter valued at $276,000. SG Americas Securities LLC acquired a new position in shares of Caleres in the 3rd quarter valued at $823,000. Two Sigma Investments LP lifted its stake in shares of Caleres by 109.7% in the 3rd quarter. Two Sigma Investments LP now owns 144,715 shares of the textile maker’s stock valued at $3,216,000 after purchasing an additional 75,700 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Caleres by 96.4% in the 3rd quarter. Two Sigma Advisers LP now owns 149,743 shares of the textile maker’s stock valued at $3,327,000 after purchasing an additional 73,500 shares during the period. Hedge funds and other institutional investors own 82.62% of the company’s stock.

Shares of Caleres stock traded up $0.36 on Tuesday, reaching $20.56. The stock had a trading volume of 516,365 shares, compared to its average volume of 757,022. The company has a 50 day moving average price of $20.88 and a 200 day moving average price of $22.73. Caleres has a 1 year low of $17.82 and a 1 year high of $29.36. The stock has a market capitalization of $773.67 million, a P/E ratio of 5.79 and a beta of 2.39.

The business also recently announced a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Thursday, March 24th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 23rd. Caleres’s dividend payout ratio (DPR) is presently 7.89%.

About Caleres (Get Rating)

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

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