Caleres (CAL) to Issue Quarterly Dividend of $0.07

Caleres (NYSE:CAL) declared a quarterly dividend on Thursday, March 8th, RTT News reports. Investors of record on Monday, March 19th will be given a dividend of 0.07 per share by the textile maker on Monday, April 2nd. This represents a $0.28 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, March 16th.

Caleres has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Caleres to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 10.4%.

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NYSE CAL opened at $34.78 on Friday. The firm has a market cap of $1,475.47, a P/E ratio of 16.10, a P/E/G 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 released its earnings results on Tuesday, March 13th. The textile maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $702.50 million for the quarter, compared to the consensus estimate of $695.61 million. Caleres had a return on equity of 14.01% and a net margin of 3.13%. Caleres’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. equities research analysts anticipate that Caleres will post 2.48 EPS for the current year.

CAL has been the topic of several analyst reports. Zacks Investment Research downgraded Caleres from a “hold” rating to a “sell” rating in a research report on Monday, March 12th. ValuEngine cut Caleres from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wedbush reissued an “outperform” rating and set a $35.00 price target on shares of Caleres in a report on Wednesday, March 14th. Susquehanna Bancshares reissued a “neutral” rating and set a $33.00 price target (up from $32.00) on shares of Caleres in a report on Tuesday, January 23rd. Finally, UBS cut Caleres from a “positive” rating to a “neutral” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Caleres presently has an average rating of “Buy” and an average price target of $35.20.

In other news, insider Daniel R. Freidman sold 2,000 shares of Caleres stock in a transaction dated Monday, March 19th. The stock was 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 of the company’s stock, valued at $2,918,026.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel R. Freidman sold 10,000 shares of Caleres stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $28.45, for a total value of $284,500.00. Following the completion of the sale, the insider now directly owns 79,435 shares in the company, valued at $2,259,925.75. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

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About Caleres

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.

Dividend History for Caleres (NYSE:CAL)

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