Caleres (CAL) Updates FY19 Earnings Guidance

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Caleres (NYSE:CAL) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.40-2.50 for the period, compared to the Thomson Reuters consensus estimate of $2.45. The company issued revenue guidance of ~$2.8 billion, compared to the consensus revenue estimate of $2.84 billion.

CAL stock traded down $0.59 during mid-day trading on Friday, reaching $34.78. The company’s stock had a trading volume of 681,951 shares, compared to its average volume of 339,902. The company has a market cap of $1,475.47, a price-to-earnings ratio of 16.10, a PEG ratio of 1.26 and a beta of 0.94. The company has a current ratio of 1.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.27. Caleres has a fifty-two week low of $22.39 and a fifty-two week high of $36.00.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, March 13th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The business had revenue of $702.50 million during the quarter, compared to the consensus estimate of $695.61 million. Caleres had a net margin of 3.13% and a return on equity of 14.01%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. equities analysts forecast that Caleres will post 2.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 19th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, March 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.81%. Caleres’s dividend payout ratio is currently 12.96%.

A number of equities analysts recently weighed in on CAL shares. Zacks Investment Research raised shares of Caleres from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Friday, February 2nd. Susquehanna Bancshares reaffirmed a neutral rating and set a $33.00 price objective (up previously from $32.00) on shares of Caleres in a research report on Tuesday, January 23rd. Wedbush reaffirmed an outperform rating and set a $35.00 price objective on shares of Caleres in a research report on Wednesday, March 14th. UBS cut shares of Caleres from a positive rating to a neutral rating in a research report on Tuesday, January 23rd. Finally, ValuEngine raised shares of Caleres from a buy rating to a strong-buy rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Caleres presently has a consensus rating of Buy and a consensus target price of $35.20.

In other news, insider Daniel R. Freidman sold 2,000 shares of the firm’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $31.81, for a total value of $63,620.00. Following the sale, the insider now directly owns 91,733 shares in the company, valued at approximately $2,918,026.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel R. Freidman sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $28.45, for a total transaction of $284,500.00. Following the completion of the sale, the insider now owns 79,435 shares in the company, valued at $2,259,925.75. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

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Caleres Company Profile

Caleres, Inc, a footwear company, retails and wholesales footwear. The company operates through Famous Footwear and Brand Portfolio segments. It offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children. The company operates retail shoe stores primarily under the Famous Footwear and Naturalizer names, which offer brand-name athletic, casual, and dress shoes, including company-owned and licensed brands, such as LifeStride, Dr.

Earnings History and Estimates for Caleres (NYSE:CAL)

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