Q3 2017 Earnings Forecast for Caleres Inc. (CAL) Issued By Jefferies Group
Caleres Inc. (NYSE:CAL) – Equities research analysts at Jefferies Group reduced their Q3 2017 earnings per share (EPS) estimates for shares of Caleres in a report issued on Tuesday. Jefferies Group analyst R. Konik now anticipates that the firm will earn $0.83 per share for the quarter, down from their previous forecast of $0.87. Jefferies Group also issued estimates for Caleres’ FY2017 earnings at $2.02 EPS and FY2018 earnings at $2.27 EPS.
Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The firm earned $622.94 million during the quarter, compared to analyst estimates of $638.71 million. Caleres had a return on equity of 13.87% and a net margin of 3.26%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS.
CAL has been the topic of a number of other reports. Zacks Investment Research raised shares of Caleres from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. Morgan Stanley reaffirmed a “hold” rating and issued a $30.00 target price on shares of Caleres in a research report on Wednesday, September 7th. Finally, Susquehanna initiated coverage on shares of Caleres in a research report on Friday, September 16th. They issued a “neutral” rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $27.67.
Caleres (NYSE:CAL) traded up 1.87% during mid-day trading on Wednesday, hitting $26.63. 104,793 shares of the stock were exchanged. The company has a 50-day moving average price of $25.31 and a 200-day moving average price of $25.14. The company has a market cap of $1.14 billion, a P/E ratio of 14.09 and a beta of 0.80. Caleres has a one year low of $21.27 and a one year high of $31.82.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Group LTD boosted its stake in Caleres by 15.0% in the first quarter. BlackRock Group LTD now owns 46,147 shares of the company’s stock valued at $1,306,000 after buying an additional 6,024 shares during the period. Victory Capital Management Inc. boosted its stake in Caleres by 7.1% in the second quarter. Victory Capital Management Inc. now owns 2,279,385 shares of the company’s stock valued at $55,184,000 after buying an additional 150,246 shares during the period. BlackRock Fund Advisors boosted its stake in Caleres by 1.2% in the first quarter. BlackRock Fund Advisors now owns 2,759,777 shares of the company’s stock valued at $78,074,000 after buying an additional 33,471 shares during the period. Clark Capital Management Group Inc. boosted its stake in Caleres by 1.7% in the first quarter. Clark Capital Management Group Inc. now owns 20,966 shares of the company’s stock valued at $593,000 after buying an additional 358 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Caleres by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,845,467 shares of the company’s stock valued at $68,888,000 after buying an additional 123,786 shares during the period. Institutional investors own 85.60% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, September 15th. Caleres’s dividend payout ratio (DPR) is presently 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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