Caleres (NYSE:CAL) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Caleres (NYSE:CAL) released its earnings results on Thursday. The textile maker reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.02, Briefing.com reports. Caleres had a return on equity of 8.62% and a net margin of 0.78%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share.

Caleres Trading Up 11.7%

Caleres stock traded up $1.04 during trading on Thursday, hitting $9.90. 323,603 shares of the company were exchanged, compared to its average volume of 595,261. The business’s 50 day moving average is $12.09 and its 200 day moving average is $12.60. Caleres has a 52 week low of $8.80 and a 52 week high of $18.27. The company has a market capitalization of $335.57 million, a P/E ratio of 15.71 and a beta of 0.64.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, March 26th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.28 annualized dividend and a dividend yield of 2.8%. Caleres’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On Caleres

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of Caleres by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,363 shares of the textile maker’s stock worth $151,000 after acquiring an additional 693 shares in the last quarter. Barclays PLC lifted its position in shares of Caleres by 1.0% during the fourth quarter. Barclays PLC now owns 90,762 shares of the textile maker’s stock valued at $1,105,000 after purchasing an additional 926 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Caleres by 5.6% during the second quarter. Franklin Resources Inc. now owns 18,902 shares of the textile maker’s stock valued at $231,000 after purchasing an additional 1,007 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Caleres by 1,662.8% during the second quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,879 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Caleres by 5.8% in the 2nd quarter. Prudential Financial Inc. now owns 34,938 shares of the textile maker’s stock worth $427,000 after purchasing an additional 1,926 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAL. Zacks Research raised Caleres from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Caleres in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $14.00.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.