Caleres Inc. (NYSE:CAL) Given Average Rating of “Hold” by Brokerages
Shares of Caleres Inc. (NYSE:CAL) have earned an average rating of “Hold” from the seven research firms that are covering the stock. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $27.40.
Several equities analysts recently commented on CAL shares. Zacks Investment Research lowered shares of Caleres from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. Jefferies Group reduced their price target on shares of Caleres from $30.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, May 27th. Susquehanna initiated coverage on shares of Caleres in a research report on Friday. They set a “neutral” rating and a $25.00 price target for the company. BB&T Corp. raised shares of Caleres from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Friday, May 27th. Finally, Morgan Stanley reissued a “hold” rating and set a $30.00 price target on shares of Caleres in a research report on Wednesday, September 7th.
Caleres (NYSE:CAL) traded down 2.34% during trading on Tuesday, hitting $24.57. 154,319 shares of the stock traded hands. The stock has a market cap of $1.05 billion, a P/E ratio of 13.00 and a beta of 0.89. Caleres has a 52-week low of $21.27 and a 52-week high of $33.19. The stock has a 50 day moving average price of $25.16 and a 200-day moving average price of $25.41.
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Caleres (NYSE:CAL) last announced its quarterly earnings data on Tuesday, August 30th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company earned $622.94 million during the quarter, compared to analysts’ expectations of $638.71 million. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, analysts anticipate that Caleres will post $0.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. Caleres’s payout ratio is 14.66%.
Several large investors have recently modified their holdings of the company. BlackRock Group LTD boosted its stake in shares of Caleres by 15.0% in the first quarter. BlackRock Group LTD now owns 46,147 shares of the company’s stock worth $1,306,000 after buying an additional 6,024 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Caleres by 1.2% in the first quarter. BlackRock Fund Advisors now owns 2,759,777 shares of the company’s stock worth $78,074,000 after buying an additional 33,471 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of Caleres by 1.7% in the first quarter. Clark Capital Management Group Inc. now owns 20,966 shares of the company’s stock worth $593,000 after buying an additional 358 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Caleres by 7.1% in the second quarter. Victory Capital Management Inc. now owns 2,279,385 shares of the company’s stock worth $55,184,000 after buying an additional 150,246 shares during the last quarter. Finally, Landscape Capital Management L.L.C. boosted its stake in shares of Caleres by 77.0% in the first quarter. Landscape Capital Management L.L.C. now owns 26,897 shares of the company’s stock worth $761,000 after buying an additional 11,697 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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