Caleres (NYSE:CAL) Releases Q3 2021 Earnings Guidance

Caleres (NYSE:CAL) issued an update on its third quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.100-$1.250 for the period, compared to the Thomson Reuters consensus estimate of $0.660. The company issued revenue guidance of -.Caleres also updated its FY 2021 guidance to $3.250-$3.500 EPS.

Shares of NYSE CAL traded up $0.18 during trading hours on Wednesday, hitting $21.90. 171 shares of the stock were exchanged, compared to its average volume of 536,534. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.25. The company’s 50 day moving average is $24.14 and its 200 day moving average is $23.74. The firm has a market capitalization of $838.07 million, a P/E ratio of -36.20 and a beta of 2.66. Caleres has a one year low of $7.57 and a one year high of $29.36.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Monday, August 30th. The textile maker reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.65. The business had revenue of $675.53 million during the quarter, compared to the consensus estimate of $640.40 million. Caleres had a negative net margin of 0.75% and a positive return on equity of 38.49%. Caleres’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.57) EPS. Research analysts anticipate that Caleres will post 3.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, September 9th. Caleres’s dividend payout ratio is currently -20.00%.

CAL has been the subject of a number of research reports. Loop Capital increased their price target on shares of Caleres from $30.00 to $35.00 and gave the company a buy rating in a report on Tuesday, September 7th. TheStreet raised shares of Caleres from a d+ rating to a c rating in a report on Friday, May 28th. Zacks Investment Research raised shares of Caleres from a hold rating to a strong-buy rating and set a $29.00 price target for the company in a report on Friday, September 3rd. Finally, CL King raised shares of Caleres from a neutral rating to a buy rating and set a $29.00 price target for the company in a report on Tuesday, June 1st.

In other news, CFO Ken Hannah sold 10,000 shares of the stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $27.85, for a total value of $278,500.00. Following the completion of the transaction, the chief financial officer now owns 109,927 shares in the company, valued at approximately $3,061,466.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Diane M. Sullivan sold 1,341 shares of the stock in a transaction on Wednesday, July 21st. The shares were sold at an average price of $25.13, for a total transaction of $33,699.33. Following the completion of the transaction, the chief executive officer now owns 612,360 shares of the company’s stock, valued at approximately $15,388,606.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,000 shares of company stock valued at $1,241,233. Insiders own 4.80% of the company’s stock.

An institutional investor recently raised its position in Caleres stock. Morgan Stanley increased its position in shares of Caleres, Inc. (NYSE:CAL) by 117.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,368 shares of the textile maker’s stock after purchasing an additional 186,442 shares during the quarter. Morgan Stanley owned approximately 0.90% of Caleres worth $9,424,000 at the end of the most recent quarter. Institutional investors own 83.45% of the company’s stock.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.

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Earnings History and Estimates for Caleres (NYSE:CAL)

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