Caleres (NYSE:CAL) Releases FY 2021 Earnings Guidance

Caleres (NYSE:CAL) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.250-$3.500 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.240. The company issued revenue guidance of -.Caleres also updated its Q3 2021 guidance to $1.100-$1.250 EPS.

Several research firms have commented on CAL. Zacks Investment Research upgraded Caleres from a hold rating to a strong-buy rating and set a $29.00 price objective for the company in a research note on Friday, September 3rd. CL King upgraded Caleres from a neutral rating to a buy rating and set a $29.00 price objective on the stock in a report on Tuesday, June 1st. TheStreet upgraded Caleres from a d+ rating to a c rating in a report on Friday, May 28th. Finally, Loop Capital upped their price objective on Caleres from $30.00 to $35.00 and gave the company a buy rating in a report on Tuesday, September 7th.

NYSE CAL traded up $0.18 on Wednesday, reaching $21.90. The stock had a trading volume of 171 shares, compared to its average volume of 536,534. The firm has a market capitalization of $838.07 million, a price-to-earnings ratio of -36.20 and a beta of 2.66. The company has a quick ratio of 0.25, a current ratio of 0.82 and a debt-to-equity ratio of 0.41. Caleres has a 12-month low of $7.57 and a 12-month high of $29.36. The stock has a fifty day moving average price of $24.14 and a two-hundred day moving average price of $23.74.

Caleres (NYSE:CAL) last announced its earnings results on Monday, August 30th. The textile maker reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.65. Caleres had a positive return on equity of 38.49% and a negative net margin of 0.75%. The company had revenue of $675.53 million for the quarter, compared to analyst estimates of $640.40 million. During the same quarter in the previous year, the company earned ($0.57) earnings per share. The firm’s quarterly revenue was up 34.7% compared to the same quarter last year. Sell-side analysts forecast that Caleres will post 3.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 9th. Caleres’s dividend payout ratio (DPR) is presently -20.00%.

In other news, CEO Diane M. Sullivan sold 17,659 shares of the stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $25.11, for a total transaction of $443,417.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ken Hannah sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $27.85, for a total transaction of $278,500.00. Following the completion of the sale, the chief financial officer now owns 109,927 shares of the company’s stock, valued at approximately $3,061,466.95. The disclosure for this sale can be found here. Insiders sold 48,000 shares of company stock worth $1,241,233 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Caleres stock. Morgan Stanley raised its stake in Caleres, Inc. (NYSE:CAL) by 117.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 345,368 shares of the textile maker’s stock after purchasing an additional 186,442 shares during the quarter. Morgan Stanley owned about 0.90% of Caleres worth $9,424,000 at the end of the most recent quarter. 83.45% of the stock is currently owned by institutional investors.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.

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Earnings History and Estimates for Caleres (NYSE:CAL)

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