Caleres (NYSE:CAL) Issues 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Loop Capital downgraded Caleres from a buy rating to a hold rating and set a $45.00 target price on the stock. in a report on Tuesday, September 3rd. StockNews.com downgraded shares of Caleres from a buy rating to a hold rating in a report on Wednesday.

Caleres Stock Performance

Shares of NYSE:CAL opened at $30.23 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 6.40 and a beta of 1.93. The firm has a fifty day moving average price of $37.48 and a 200 day moving average price of $36.90. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51.

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

Caleres Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, September 13th. Caleres’s dividend payout ratio is 5.93%.

Insider Activity at Caleres

In other news, insider Diane M. Sullivan sold 19,764 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $33.66, for a total transaction of $665,256.24. Following the transaction, the insider now owns 173,816 shares of the company’s stock, valued at approximately $5,850,646.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Diane M. Sullivan sold 17,068 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total transaction of $605,060.60. Following the transaction, the insider now directly owns 150,449 shares of the company’s stock, valued at $5,333,417.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Diane M. Sullivan sold 19,764 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $33.66, for a total value of $665,256.24. Following the completion of the sale, the insider now owns 173,816 shares of the company’s stock, valued at approximately $5,850,646.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,181 shares of company stock valued at $1,447,208. Insiders own 3.80% of the company’s stock.

About Caleres

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.