Caleres (CAL) Announces Quarterly Earnings Results

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Caleres (NYSE:CAL) announced its quarterly earnings results on Thursday. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07), RTT News reports. The company had revenue of $720.26 million during the quarter, compared to analysts’ expectations of $738.12 million. Caleres had a return on equity of 13.58% and a net margin of 3.21%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Caleres updated its FY 2019 guidance to $2.45-2.55 EPS and its FY20 guidance to $2.45-2.55 EPS.

Shares of NYSE CAL traded down $0.07 during mid-day trading on Thursday, hitting $25.75. 1,054,056 shares of the company’s stock traded hands, compared to its average volume of 391,442. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 11.92 and a beta of 0.76. Caleres has a 1 year low of $25.48 and a 1 year high of $41.09.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, March 25th. Caleres’s dividend payout ratio is 12.96%.

In other news, insider Daniel R. Freidman sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the insider now directly owns 74,046 shares in the company, valued at approximately $2,221,380. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by corporate insiders.

Caleres announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 14th that allows the company to buyback 2,500,000 outstanding shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several brokerages have commented on CAL. Zacks Investment Research upgraded shares of Caleres from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Wedbush reiterated an “outperform” rating on shares of Caleres in a research note on Tuesday, March 12th. Finally, Loop Capital set a $30.00 price target on shares of Caleres and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.75.

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Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

Further Reading: Dividend Aristocrat Index

Earnings History for Caleres (NYSE:CAL)

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