Caleres Inc. (CAL) Earns Neutral Rating from Analysts at Susquehanna
Several other analysts have also recently weighed in on CAL. Zacks Investment Research cut Caleres from a hold rating to a sell rating in a report on Wednesday, September 14th. Sterne Agee CRT reissued a buy rating and set a $30.00 target price on shares of Caleres in a report on Friday, May 27th. Morgan Stanley reissued a hold rating and issued a $30.00 target price on shares of Caleres in a research report on Wednesday, September 7th. BB&T Corp. reissued a buy rating and issued a $28.00 target price (up previously from $26.00) on shares of Caleres in a research report on Saturday, June 11th. Finally, Jefferies Group reduced their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Caleres has an average rating of Hold and a consensus price target of $27.67.
Caleres (NYSE:CAL) opened at 24.79 on Friday. Caleres has a 52 week low of $21.27 and a 52 week high of $33.19. The company has a 50 day moving average price of $25.13 and a 200-day moving average price of $25.38. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.12 and a beta of 0.89.
Caleres (NYSE:CAL) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share 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 the consensus estimate of $638.71 million. Caleres had a net margin of 3.26% and a return on equity of 13.87%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. Equities analysts predict that Caleres will post $0.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 15th. Caleres’s payout ratio is presently 14.66%.
A number of hedge funds have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC boosted its stake in shares of Caleres by 466.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares during the last quarter. PineBridge Investments L.P. boosted its position in Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock worth $134,000 after buying an additional 199 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Caleres by 22.8% in the second quarter. Teacher Retirement System of Texas now owns 6,250 shares of the company’s stock worth $151,000 after buying an additional 1,159 shares during the last quarter. Quantbot Technologies LP boosted its position in Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock worth $172,000 after buying an additional 4,169 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new position in Caleres during the second quarter worth about $207,000. Institutional investors and hedge funds own 84.67% of the company’s stock.
Caleres Company Profile
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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