Caleres (NYSE:CAL) Updates FY 2024 Earnings Guidance

Caleres (NYSE:CAL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.200-3.300 for the period, compared to the consensus earnings per share estimate of 3.730. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.8 billion.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAL. Loop Capital dropped their target price on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th. StockNews.com lowered shares of Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.

Caleres Trading Down 0.5 %

Shares of CAL stock opened at $20.04 on Friday. The stock has a market cap of $673.98 million, a P/E ratio of 4.46 and a beta of 1.96. Caleres has a 1 year low of $19.21 and a 1 year high of $44.51. The stock has a 50 day simple moving average of $24.94 and a 200 day simple moving average of $31.31.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. Caleres’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 earnings per share. Analysts forecast that Caleres will post 3.24 EPS for the current year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a dividend of $0.07 per share. The ex-dividend date was Friday, December 27th. This represents a $0.28 annualized dividend and a yield of 1.40%. Caleres’s dividend payout ratio is 6.24%.

Insider Buying and Selling at Caleres

In other Caleres news, Director Kyle Gendreau bought 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $99,650. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.80% of the company’s stock.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.