Caleres Inc Plans Quarterly Dividend of $0.07 (CAL)

Caleres Inc (NYSE:CAL) declared a quarterly dividend on Thursday, December 13th, RTT News reports. Shareholders of record on Monday, December 24th will be paid a dividend of 0.07 per share by the textile maker on Wednesday, January 9th. This represents a $0.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, December 21st.

Caleres has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Caleres to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 11.0%.

Shares of Caleres stock opened at $28.30 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.39 and a current ratio of 1.19. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 12.25 and a beta of 0.86. Caleres has a one year low of $27.10 and a one year high of $41.09.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, November 20th. The textile maker reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.07). The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $765.00 million. Caleres had a return on equity of 13.58% and a net margin of 3.21%. Caleres’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. As a group, equities analysts expect that Caleres will post 2.3 EPS for the current fiscal year.

A number of equities analysts have commented on the company. ValuEngine raised Caleres from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Zacks Investment Research raised Caleres from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Friday, August 31st. Macquarie lifted their price target on Caleres from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Loop Capital set a $30.00 price target on Caleres and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Finally, Wedbush lifted their price target on Caleres from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $38.33.

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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: What is a Derivative?

Dividend History for Caleres (NYSE:CAL)

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