Caleres Inc. (NYSE:CAL) – Investment analysts at Northcoast Research decreased their Q3 2017 earnings per share (EPS) estimates for Caleres in a report released on Thursday. Northcoast Research analyst J. Stein now anticipates that the brokerage will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.85. Northcoast Research also issued estimates for Caleres’ Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.48 EPS and Q2 2018 earnings at $0.55 EPS.
Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The business earned $622.94 million during the quarter, compared to analyst estimates of $638.71 million. Caleres had a net margin of 3.26% and a return on equity of 13.87%. Caleres’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share.
CAL has been the subject of several other research reports. Zacks Investment Research raised shares of Caleres from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Morgan Stanley reissued a “hold” rating and set a $30.00 price target on shares of Caleres in a report on Wednesday, September 7th. BB&T Corp. reissued a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of Caleres in a report on Saturday, June 11th. Finally, Susquehanna began coverage on shares of Caleres in a report on Friday, September 16th. They set a “neutral” rating and a $25.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.67.
Shares of Caleres (NYSE:CAL) opened at 26.07 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of 13.79 and a beta of 0.80. The company has a 50-day moving average of $25.29 and a 200-day moving average of $25.16. Caleres has a 52 week low of $21.27 and a 52 week high of $31.82.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, September 15th. Caleres’s dividend payout ratio is currently 14.66%.
Several large investors have recently modified their holdings of CAL. Dimensional Fund Advisors LP boosted its stake in shares of Caleres by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,845,467 shares of the company’s stock worth $68,888,000 after buying an additional 123,786 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Caleres by 2.8% in the second quarter. BlackRock Fund Advisors now owns 2,836,977 shares of the company’s stock worth $68,683,000 after buying an additional 77,200 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Caleres by 18.1% in the second quarter. Alliancebernstein L.P. now owns 2,782,158 shares of the company’s stock worth $67,356,000 after buying an additional 426,251 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Caleres by 7.1% in the second quarter. Victory Capital Management Inc. now owns 2,279,385 shares of the company’s stock worth $55,184,000 after buying an additional 150,246 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Caleres by 7.4% in the first quarter. Franklin Resources Inc. now owns 1,695,098 shares of the company’s stock worth $47,954,000 after buying an additional 116,700 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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