Caleres (NYSE:CAL) Updates Q3 Earnings Guidance

Caleres (NYSE:CAL) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.30-1.40 for the period, compared to the consensus earnings per share 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 Trading Up 5.2 %

Shares of CAL opened at $31.81 on Friday. The firm has a fifty day moving average price of $37.48 and a 200-day moving average price of $36.87. The firm has a market capitalization of $1.12 billion, a P/E ratio of 6.74 and a beta of 1.93. Caleres has a 12-month low of $24.71 and a 12-month high of $44.51.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.37). Caleres had a net margin of 5.97% and a return on equity of 27.32%. The firm had revenue of $683.30 million during the quarter, compared to analyst estimates of $723.80 million. During the same quarter last year, the business earned $0.98 earnings per share. Caleres’s revenue was down 1.8% on a year-over-year basis. Analysts predict that Caleres will post 4.4 earnings per share for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 13th. This represents a $0.28 annualized dividend and a dividend yield of 0.88%. Caleres’s payout ratio is currently 5.93%.

Analyst Upgrades and Downgrades

CAL has been the subject of several research reports. StockNews.com downgraded shares of Caleres from a buy rating to a hold rating in a research note on Wednesday. Loop Capital lowered their price objective on shares of Caleres from $45.00 to $30.00 and set a hold rating for the company in a research note on Friday.

Insider Buying and Selling

In other Caleres news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Diane M. Sullivan sold 17,068 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.45, for a total transaction of $605,060.60. Following the sale, the insider now directly owns 150,449 shares of the company’s stock, valued at approximately $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 over the last 90 days. 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.