Caleres Inc Forecasted to Post Q1 2020 Earnings of $0.36 Per Share (CAL)
Caleres Inc (NYSE:CAL) – Equities researchers at Wedbush issued their Q1 2020 earnings estimates for Caleres in a report issued on Friday, March 22nd. Wedbush analyst C. Svezia forecasts that the textile maker will earn $0.36 per share for the quarter. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Caleres’ Q2 2020 earnings at $0.65 EPS, Q3 2020 earnings at $0.99 EPS, Q4 2020 earnings at $0.51 EPS, FY2020 earnings at $2.52 EPS and FY2021 earnings at $2.75 EPS.
Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, March 21st. The textile maker reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.07). Caleres had a negative net margin of 0.19% and a positive return on equity of 13.26%. The firm had revenue of $720.26 million during the quarter, compared to the consensus estimate of $738.12 million. During the same quarter last year, the firm posted $0.48 earnings per share. Caleres’s revenue was up 2.5% compared to the same quarter last year.
Shares of NYSE CAL opened at $23.52 on Monday. Caleres has a twelve month low of $22.85 and a twelve month high of $41.09. The company has a quick ratio of 0.34, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.01 billion, a PE ratio of 10.64 and a beta of 0.76.
Caleres declared that its Board of Directors has initiated a share buyback program on Friday, December 14th that allows the company to buyback 2,500,000 shares. This buyback authorization allows the textile maker to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th will be issued a $0.07 dividend. The ex-dividend date is Monday, March 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.19%. Caleres’s dividend payout ratio (DPR) is 12.67%.
In related news, insider Daniel R. Freidman sold 5,000 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now directly owns 74,046 shares in the company, valued at approximately $2,221,380. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Caleres by 2.5% during the 4th quarter. BlackRock Inc. now owns 6,239,781 shares of the textile maker’s stock worth $173,655,000 after buying an additional 153,855 shares during the last quarter. Vanguard Group Inc grew its stake in Caleres by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 3,975,221 shares of the textile maker’s stock worth $142,551,000 after buying an additional 78,692 shares during the last quarter. Vanguard Group Inc. grew its stake in Caleres by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,975,221 shares of the textile maker’s stock worth $142,551,000 after buying an additional 78,692 shares during the last quarter. Franklin Resources Inc. grew its stake in Caleres by 3.9% during the 3rd quarter. Franklin Resources Inc. now owns 3,272,167 shares of the textile maker’s stock worth $117,340,000 after buying an additional 121,360 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Caleres by 2.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,410,505 shares of the textile maker’s stock worth $39,254,000 after acquiring an additional 32,332 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.
Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.
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