Q3 2024 Earnings Estimate for Caleres, Inc. (NYSE:CAL) Issued By Seaport Res Ptn

Caleres, Inc. (NYSE:CAL – Get Rating) – Investment analysts at Seaport Res Ptn issued their Q3 2024 earnings per share estimates for shares of Caleres in a research report issued to clients and investors on Tuesday, March 14th. Seaport Res Ptn analyst M. Kummetz expects that the textile maker will post earnings of $1.10 per share for the quarter. The consensus estimate for Caleres’ current full-year earnings is $4.18 per share. Seaport Res Ptn also issued estimates for Caleres’ FY2024 earnings at $4.10 EPS and FY2025 earnings at $4.48 EPS.

Caleres (NYSE:CAL – Get Rating) last released its quarterly earnings data on Tuesday, March 14th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $696.40 million during the quarter, compared to analysts’ expectations of $691.56 million. Caleres had a return on equity of 42.45% and a net margin of 6.12%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share.

Several other brokerages have also issued reports on CAL. Piper Sandler upgraded Caleres from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $26.00 to $35.00 in a research note on Tuesday, February 21st. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research note on Wednesday.

Caleres Stock Performance

Caleres stock opened at $22.08 on Friday. The business’s 50-day simple moving average is $24.69 and its 200-day simple moving average is $24.59. The firm has a market capitalization of $786.49 million, a PE ratio of 4.50 and a beta of 1.75. Caleres has a 52 week low of $18.98 and a 52 week high of $31.13.

Caleres Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, March 23rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, March 22nd. Caleres’s dividend payout ratio (DPR) is presently 5.70%.

Insiders Place Their Bets

In other Caleres news, insider Diane M. Sullivan sold 19,900 shares of the stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $26.99, for a total transaction of $537,101.00. Following the completion of the transaction, the insider now owns 125,291 shares in the company, valued at approximately $3,381,604.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Diane M. Sullivan sold 1,280 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $26.19, for a total transaction of $33,523.20. Following the completion of the transaction, the insider now directly owns 110,236 shares in the company, valued at approximately $2,887,080.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Diane M. Sullivan sold 19,900 shares of the stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $26.99, for a total transaction of $537,101.00. Following the transaction, the insider now owns 125,291 shares of the company’s stock, valued at $3,381,604.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,580 shares of company stock worth $659,476. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Caleres

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Caleres by 2.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 19,026 shares of the textile maker’s stock valued at $464,000 after purchasing an additional 376 shares during the last quarter. USA Financial Portformulas Corp lifted its stake in Caleres by 40.1% in the 3rd quarter. USA Financial Portformulas Corp now owns 1,384 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 396 shares during the last quarter. Texas Permanent School Fund lifted its stake in Caleres by 1.7% in the 2nd quarter. Texas Permanent School Fund now owns 27,458 shares of the textile maker’s stock valued at $720,000 after purchasing an additional 454 shares during the last quarter. Assetmark Inc. lifted its position in Caleres by 25.8% during the fourth quarter. Assetmark Inc. now owns 2,747 shares of the textile maker’s stock worth $61,000 after acquiring an additional 564 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Caleres by 0.3% during the fourth quarter. Panagora Asset Management Inc. now owns 199,372 shares of the textile maker’s stock worth $4,442,000 after acquiring an additional 651 shares during the last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.

Caleres Company Profile

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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.