Caleres (NYSE:CAL) Updates Q3 Earnings Guidance

Caleres (NYSE:CAL) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $1.30-1.40 for the period, compared to the consensus EPS estimate of $1.49. The company issued revenue guidance of flat to down 2%, compared to the consensus revenue estimate of $766.21 million. Caleres also updated its FY 2024 guidance to 4.000-4.150 EPS.

Caleres Stock Performance

Caleres stock opened at $37.25 on Thursday. Caleres has a 52 week low of $24.71 and a 52 week high of $44.51. The firm has a market capitalization of $1.31 billion, a PE ratio of 7.89 and a beta of 1.93. The business’s 50-day simple moving average is $37.44 and its 200-day simple moving average is $36.95.

Caleres Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, September 13th. Caleres’s dividend payout ratio is currently 5.93%.

Analyst Ratings Changes

CAL has been the topic of several research analyst reports. Loop Capital downgraded shares of Caleres from a buy rating to a hold rating and set a $45.00 price objective on the stock. in a research note on Tuesday, September 3rd. StockNews.com downgraded shares of Caleres from a buy rating to a hold rating in a report on Wednesday.

Insider Buying and Selling at Caleres

In related news, insider Diane M. Sullivan sold 17,068 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total value of $605,060.60. Following the completion of the transaction, the insider now directly owns 150,449 shares of the company’s stock, valued at $5,333,417.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Caleres news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Diane M. Sullivan sold 17,068 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total value of $605,060.60. Following the completion of the sale, the insider now owns 150,449 shares in the company, valued at $5,333,417.05. The disclosure for this sale can be found here. Insiders sold a total of 42,181 shares of company stock valued at $1,447,208 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.