Northcoast Research Weighs in on Caleres Inc.’s Q3 2017 Earnings (CAL)
Caleres Inc. (NYSE:CAL) – Northcoast Research reduced their Q3 2017 earnings per share estimates for Caleres in a research note issued on Thursday. Northcoast Research analyst J. Stein now expects that the brokerage will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.85. Northcoast Research also issued estimates for Caleres’ Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.48 EPS and Q2 2018 earnings at $0.55 EPS.
Other research analysts have also issued research reports about the company. BB&T Corp. reissued a “buy” rating and set a $28.00 price target (up previously from $26.00) on shares of Caleres in a research note on Saturday, June 11th. Zacks Investment Research raised Caleres from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Morgan Stanley reissued a “hold” rating and set a $30.00 price target on shares of Caleres in a research note on Wednesday, September 7th. Finally, Susquehanna began coverage on Caleres in a report on Friday, September 16th. They set a “neutral” rating and a $25.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.67.
Shares of Caleres (NYSE:CAL) traded up 0.12% during mid-day trading on Friday, reaching $26.05. The company’s stock had a trading volume of 134,255 shares. The firm has a market capitalization of $1.12 billion, a PE ratio of 13.78 and a beta of 0.80. Caleres has a 52 week low of $21.27 and a 52 week high of $31.82. The firm has a 50-day moving average of $25.28 and a 200-day moving average of $25.17.
Caleres (NYSE:CAL) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The business had revenue of $622.94 million for the quarter, compared to analysts’ expectations of $638.71 million. Caleres had a return on equity of 13.87% and a net margin of 3.26%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Group LTD raised its position in Caleres by 15.0% in the first quarter. BlackRock Group LTD now owns 46,147 shares of the company’s stock worth $1,306,000 after buying an additional 6,024 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Caleres by 7.1% in the second quarter. Victory Capital Management Inc. now owns 2,279,385 shares of the company’s stock worth $55,184,000 after buying an additional 150,246 shares during the period. BlackRock Fund Advisors raised its stake in shares of Caleres by 1.2% in the first quarter. BlackRock Fund Advisors now owns 2,759,777 shares of the company’s stock worth $78,074,000 after buying an additional 33,471 shares during the period. Clark Capital Management Group Inc. raised its stake in shares of Caleres by 1.7% in the first quarter. Clark Capital Management Group Inc. now owns 20,966 shares of the company’s stock worth $593,000 after buying an additional 358 shares during the period. Finally, Hancock Holding Co. raised its stake in shares of Caleres by 9.0% in the first quarter. Hancock Holding Co. now owns 26,660 shares of the company’s stock worth $754,000 after buying an additional 2,198 shares during the period. 85.60% of the stock is owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, September 15th. Caleres’s dividend payout ratio is 14.66%.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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