Caleres (NYSE:CAL) Updates FY 2021 Earnings Guidance

Caleres (NYSE:CAL) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of $3.250-$3.500 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.240. The company issued revenue guidance of -.Caleres also updated its Q3 2021 guidance to $1.100-$1.250 EPS.

Several research firms recently issued reports on CAL. Zacks Investment Research raised shares of Caleres from a hold rating to a strong-buy rating and set a $29.00 price objective for the company in a report on Friday, September 3rd. TheStreet raised shares of Caleres from a d+ rating to a c rating in a report on Friday, May 28th. Loop Capital increased their price target on shares of Caleres from $30.00 to $35.00 and gave the company a buy rating in a report on Tuesday, September 7th. Finally, CL King raised shares of Caleres from a neutral rating to a buy rating and set a $29.00 price target for the company in a report on Tuesday, June 1st.

Shares of CAL stock traded up $0.18 during mid-day trading on Wednesday, reaching $21.90. The company’s stock had a trading volume of 171 shares, compared to its average volume of 536,534. Caleres has a 1-year low of $7.57 and a 1-year high of $29.36. The company has a market cap of $838.07 million, a P/E ratio of -36.20 and a beta of 2.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 0.82. The firm’s 50-day moving average is $24.14 and its two-hundred day moving average is $23.74.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Monday, August 30th. The textile maker reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.65. Caleres had a negative net margin of 0.75% and a positive return on equity of 38.49%. The company had revenue of $675.53 million during the quarter, compared to analysts’ expectations of $640.40 million. During the same quarter in the prior year, the company posted ($0.57) EPS. The business’s revenue was up 34.7% on a year-over-year basis. Sell-side analysts anticipate that Caleres will post 3.3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 9th. Caleres’s dividend payout ratio is -20.00%.

In other Caleres news, CFO Ken Hannah sold 10,000 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $27.85, for a total transaction of $278,500.00. Following the sale, the chief financial officer now owns 109,927 shares of the company’s stock, valued at approximately $3,061,466.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Diane M. Sullivan sold 1,341 shares of the stock in a transaction dated Wednesday, July 21st. The stock was sold at an average price of $25.13, for a total transaction of $33,699.33. Following the sale, the chief executive officer now directly owns 612,360 shares in the company, valued at approximately $15,388,606.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,000 shares of company stock valued at $1,241,233. Corporate insiders own 4.80% of the company’s stock.

A hedge fund recently raised its stake in Caleres stock. Morgan Stanley boosted its stake in shares of Caleres, Inc. (NYSE:CAL) by 117.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 345,368 shares of the textile maker’s stock after buying an additional 186,442 shares during the period. Morgan Stanley owned approximately 0.90% of Caleres worth $9,424,000 as of its most recent filing with the SEC. Institutional investors own 83.45% of the company’s stock.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.

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Earnings History and Estimates for Caleres (NYSE:CAL)

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