Caleres, Inc. (CAL) Downgraded to “Sell” at BidaskClub
BidaskClub downgraded shares of Caleres, Inc. (NYSE:CAL) from a hold rating to a sell rating in a research note issued to investors on Friday.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Caleres from a hold rating to a sell rating in a research note on Thursday, May 25th. Wedbush started coverage on shares of Caleres in a research note on Tuesday, April 11th. They set an outperform rating and a $32.00 price objective on the stock. Rafferty Capital Markets reissued a buy rating on shares of Caleres in a research note on Tuesday, April 4th. Susquehanna Bancshares Inc raised shares of Caleres from a neutral rating to a positive rating and set a $31.00 price objective on the stock in a research note on Tuesday, May 30th. Finally, TheStreet lowered shares of Caleres from a b rating to a c+ rating in a research note on Friday, April 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $31.40.
Shares of Caleres (CAL) opened at 27.28 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 18.70 and a beta of 1.08. Caleres has a 12-month low of $23.12 and a 12-month high of $36.61. The company has a 50 day moving average of $27.03 and a 200-day moving average of $28.06.
Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, May 25th. The textile maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. Caleres had a net margin of 2.39% and a return on equity of 13.80%. The business had revenue of $631.50 million for the quarter, compared to analyst estimates of $621.31 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Caleres’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts predict that Caleres will post $2.18 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 19th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.03%. Caleres’s dividend payout ratio is presently 19.18%.
Several hedge funds and other institutional investors have recently modified their holdings of CAL. State of Alaska Department of Revenue boosted its stake in Caleres by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the textile maker’s stock worth $125,000 after buying an additional 60 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Caleres during the fourth quarter worth $228,000. Chevy Chase Trust Holdings Inc. acquired a new stake in Caleres during the second quarter worth $204,000. Quantbot Technologies LP acquired a new stake in Caleres during the first quarter worth $209,000. Finally, Karp Capital Management Corp acquired a new stake in Caleres during the first quarter worth $225,000. Hedge funds and other institutional investors own 84.63% of the company’s stock.
Caleres Company Profile
Caleres, 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. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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