Caleres (NYSE:CAL) Posts Earnings Results, Beats Expectations By $0.49 EPS

Caleres (NYSE:CALGet Rating) posted its earnings results on Tuesday. The textile maker reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.49, MarketWatch Earnings reports. Caleres had a return on equity of 61.12% and a net margin of 4.93%. The business had revenue of $735.12 million during the quarter, compared to analyst estimates of $677.28 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Caleres updated its FY 2022 guidance to $4.20-$4.40 EPS and its FY23 guidance to $4.20-4.40 EPS.

NYSE:CAL traded down $1.50 during midday trading on Tuesday, reaching $20.93. The company had a trading volume of 1,843,762 shares, compared to its average volume of 651,915. The firm has a market capitalization of $794.71 million, a price-to-earnings ratio of 5.90 and a beta of 2.09. The stock’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $22.66. Caleres has a 12-month low of $17.82 and a 12-month high of $29.36.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Thursday, March 24th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.28 annualized dividend and a yield of 1.34%. Caleres’s dividend payout ratio (DPR) is 7.89%.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Caleres from a “buy” rating to a “hold” rating in a research note on Tuesday, March 15th. StockNews.com raised Caleres from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 11th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.00.

In related news, CAO Todd E. Hasty purchased 2,500 shares of Caleres stock in a transaction dated Thursday, March 17th. The shares were acquired at an average price of $21.00 per share, with a total value of $52,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Diane M. Sullivan sold 35,915 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $25.18, for a total transaction of $904,339.70. Following the completion of the sale, the chief executive officer now owns 621,446 shares in the company, valued at approximately $15,648,010.28. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its holdings in Caleres by 6.3% in the 1st quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock worth $706,000 after acquiring an additional 2,172 shares during the period. APG Asset Management N.V. bought a new stake in Caleres in the first quarter valued at approximately $667,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Caleres by 13.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,837 shares of the textile maker’s stock worth $635,000 after acquiring an additional 3,914 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in shares of Caleres during the fourth quarter worth $620,000. Finally, Wellington Management Group LLP acquired a new position in Caleres during the first quarter worth $582,000. 81.45% of the stock is owned by hedge funds and other institutional investors.

About Caleres (Get Rating)

Caleres, Inc engages in the retail and wholesale of footwear in the United States, 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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Earnings History for Caleres (NYSE:CAL)

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