Caleres, Inc. (CAL) Earns “Outperform” Rating from Macquarie
Macquarie reiterated their outperform rating on shares of Caleres, Inc. (NYSE:CAL) in a research note issued to investors on Sunday. The firm currently has a $37.00 price objective on the textile maker’s stock.
A number of other research firms have also weighed in on CAL. BidaskClub upgraded shares of Caleres from a sell rating to a hold rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded shares of Caleres from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Wednesday, July 12th. TheStreet upgraded shares of Caleres from a c+ rating to a b- rating in a research note on Thursday, July 27th. Finally, Susquehanna Bancshares Inc reiterated a buy rating and set a $31.00 price target on shares of Caleres in a report on Tuesday, August 29th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Caleres has a consensus rating of Buy and a consensus price target of $33.00.
Caleres (NYSE:CAL) opened at 30.95 on Friday. The company has a 50-day moving average price of $27.49 and a 200 day moving average price of $27.00. The company has a market capitalization of $1.33 billion, a PE ratio of 21.97 and a beta of 1.07. Caleres has a 12 month low of $22.39 and a 12 month high of $36.61.
Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $668.85 million. Caleres had a net margin of 2.26% and a return on equity of 13.80%. Caleres’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities research analysts forecast that Caleres will post $2.18 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.28 annualized dividend and a yield of 0.90%. Caleres’s payout ratio is 19.86%.
In other Caleres news, SVP Douglas Koch sold 33,400 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $30.03, for a total transaction of $1,003,002.00. Following the transaction, the senior vice president now owns 103,837 shares in the company, valued at approximately $3,118,225.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. purchased a new position in shares of Caleres during the second quarter valued at approximately $142,000. LaSalle Street Capital Management LLC bought a new position in Caleres during the second quarter valued at approximately $201,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Caleres in the second quarter worth approximately $204,000. Quantbot Technologies LP purchased a new stake in Caleres in the first quarter worth approximately $209,000. Finally, Verition Fund Management LLC purchased a new stake in Caleres in the second quarter worth approximately $229,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.
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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