Caleres (NYSE:CAL) Releases Earnings Results, Beats Estimates By $0.02 EPS (2024)

Posted by Denise Davis on May 31st, 2024

Caleres (NYSE:CAL – Get Free Report) released its quarterly earnings results on Thursday. The textile maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02, Briefing.com reports. Caleres had a net margin of 6.10% and a return on equity of 29.77%. The company had revenue of $659.20 million for the quarter, compared to analyst estimates of $664.80 million. During the same quarter last year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year.

Caleres Stock Performance

NYSE CAL opened at $36.18 on Friday. The business has a 50 day simple moving average of $37.37 and a 200 day simple moving average of $34.22. Caleres has a 52-week low of $16.85 and a 52-week high of $41.94. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 7.52 and a beta of 2.01.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.77%. Caleres’s dividend payout ratio (DPR) is presently 5.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. KeyCorp assumed coverage on shares of Caleres in a research report on Wednesday, February 7th. They set a “sector weight” rating on the stock. Piper Sandler boosted their target price on shares of Caleres from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Loop Capital boosted their target price on shares of Caleres from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Caleres currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Read Our Latest Report on CAL

Insider Buying and Selling

In related news, insider Diane M. Sullivan sold 21,771 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $36.54, for a total transaction of $795,512.34. Following the completion of the sale, the insider now directly owns 232,897 shares of the company’s stock, valued at approximately $8,510,056.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Caleres news, insider Diane M. Sullivan sold 21,771 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $36.54, for a total transaction of $795,512.34. Following the completion of the transaction, the insider now owns 232,897 shares of the company’s stock, valued at approximately $8,510,056.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John W. Schmidt sold 25,332 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $37.63, for a total value of $953,243.16. Following the transaction, the chief executive officer now directly owns 348,771 shares of the company’s stock, valued at approximately $13,124,252.73. The disclosure for this sale can be found here. In the last three months, insiders sold 124,790 shares of company stock valued at $4,728,538. 3.80% of the stock is owned by corporate insiders.