Caleres, Inc. to Post Q3 2024 Earnings of $1.02 Per Share, Seaport Res Ptn Forecasts (NYSE:CAL)

Caleres, Inc. (NYSE:CAL) – Analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share estimates for shares of Caleres in a research report issued on Tuesday, August 29th. Seaport Res Ptn analyst M. Kummetz now expects that the textile maker will earn $1.02 per share for the quarter, down from their previous forecast of $1.18. The consensus estimate for Caleres’ current full-year earnings is $4.13 per share. Seaport Res Ptn also issued estimates for Caleres’ FY2024 earnings at $3.73 EPS, FY2025 earnings at $4.09 EPS and FY2026 earnings at $4.49 EPS.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, August 31st. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Caleres had a return on equity of 36.28% and a net margin of 5.73%. The firm had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $704.85 million. During the same period in the prior year, the firm earned $1.38 EPS. The business’s revenue was down 5.8% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. Piper Sandler downgraded Caleres from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $25.00 in a research note on Thursday, May 25th. TheStreet raised Caleres from a “c+” rating to a “b” rating in a research note on Thursday, June 1st. Finally, StockNews.com initiated coverage on shares of Caleres in a research note on Thursday, August 17th. They issued a “hold” rating for the company.

Caleres Price Performance

CAL opened at $28.67 on Thursday. Caleres has a 12 month low of $16.85 and a 12 month high of $29.20. The stock has a market capitalization of $1.04 billion, a P/E ratio of 6.29 and a beta of 1.88. The business has a 50 day simple moving average of $25.82 and a 200-day simple moving average of $23.91.

Hedge Funds Weigh In On Caleres

Several large investors have recently made changes to their positions in CAL. Wexford Capital LP bought a new stake in shares of Caleres in the 4th quarter valued at approximately $4,093,000. Cambria Investment Management L.P. boosted its position in Caleres by 10.8% in the 1st quarter. Cambria Investment Management L.P. now owns 277,504 shares of the textile maker’s stock valued at $6,002,000 after buying an additional 27,100 shares during the last quarter. Dorsey Wright & Associates bought a new position in Caleres in the 4th quarter valued at $26,000. Panagora Asset Management Inc. boosted its position in Caleres by 0.3% in the 4th quarter. Panagora Asset Management Inc. now owns 199,372 shares of the textile maker’s stock valued at $4,442,000 after buying an additional 651 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Caleres in the 4th quarter valued at $277,000. Institutional investors and hedge funds own 88.44% of the company’s stock.

Insider Activity

In other Caleres news, CAO Todd E. Hasty sold 5,800 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $25.00, for a total value of $145,000.00. Following the completion of the transaction, the chief accounting officer now owns 31,513 shares in the company, valued at approximately $787,825. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Carla C. Hendra sold 2,536 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $19.71, for a total value of $49,984.56. Following the completion of the sale, the director now owns 2,493 shares in the company, valued at approximately $49,137.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd E. Hasty sold 5,800 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $145,000.00. Following the completion of the transaction, the chief accounting officer now owns 31,513 shares in the company, valued at approximately $787,825. The disclosure for this sale can be found here. In the last three months, insiders sold 16,336 shares of company stock worth $393,385. 5.40% of the stock is currently owned by insiders.

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, September 7th. Caleres’s dividend payout ratio (DPR) is currently 6.14%.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, Eastern Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products.