Caleres (CAL) Updates FY19 Earnings Guidance

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Caleres (NYSE:CAL) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.40-2.50 for the period, compared to the Thomson Reuters consensus estimate of $2.48. The company issued revenue guidance of approx $2.80 billion, compared to the consensus revenue estimate of $2.79 billion.

Caleres stock traded down $2.61 during midday trading on Wednesday, hitting $37.75. The stock had a trading volume of 57,860 shares, compared to its average volume of 280,934. The company has a quick ratio of 0.65, a current ratio of 1.97 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.75 billion, a P/E ratio of 17.30 and a beta of 0.89. Caleres has a 12 month low of $26.54 and a 12 month high of $41.09.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Tuesday, September 4th. The textile maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The firm had revenue of $706.61 million during the quarter, compared to analyst estimates of $709.15 million. Caleres had a return on equity of 13.70% and a net margin of 3.21%. Caleres’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. equities research analysts anticipate that Caleres will post 2.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, September 14th. Caleres’s dividend payout ratio is currently 12.96%.

Several analysts recently weighed in on CAL shares. ValuEngine lowered Caleres from a buy rating to a hold rating in a report on Thursday, August 2nd. Zacks Investment Research lowered Caleres from a buy rating to a hold rating in a report on Tuesday, May 15th. Needham & Company LLC started coverage on Caleres in a report on Friday, June 22nd. They issued a hold rating for the company. Loop Capital started coverage on Caleres in a report on Thursday, June 7th. They issued a hold rating and a $37.00 price objective for the company. Finally, Wedbush boosted their price objective on Caleres from $38.00 to $42.00 and gave the company an outperform rating in a report on Wednesday, August 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $39.50.

In other news, insider Douglas Koch sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the transaction, the insider now directly owns 97,501 shares of the company’s stock, valued at $3,705,038. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Diane M. Sullivan sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $38.28, for a total value of $765,600.00. Following the transaction, the chief executive officer now directly owns 473,534 shares of the company’s stock, valued at $18,126,881.52. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

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.

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Earnings History and Estimates for Caleres (NYSE:CAL)

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