Seaport Res Ptn Analysts Lower Earnings Estimates for Caleres, Inc. (NYSE:CAL)

Caleres, Inc. (NYSE:CALGet Rating) – Seaport Res Ptn lowered their Q4 2023 EPS estimates for shares of Caleres in a report issued on Tuesday, November 22nd. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.49. The consensus estimate for Caleres’ current full-year earnings is $4.37 per share.

Several other equities research analysts have also recently issued reports on the stock. CL King decreased their target price on shares of Caleres from $37.00 to $35.00 in a research report on Thursday, November 17th. Piper Sandler began coverage on shares of Caleres in a research report on Tuesday, October 25th. They issued a “neutral” rating and a $28.00 target price on the stock. StockNews.com began coverage on shares of Caleres in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, TheStreet lowered shares of Caleres from a “b-” rating to a “c” rating in a report on Friday, August 26th.

Caleres Stock Performance

CAL opened at $24.83 on Thursday. The company’s 50 day simple moving average is $25.87 and its 200 day simple moving average is $26.41. Caleres has a 1 year low of $17.82 and a 1 year high of $31.13. The stock has a market capitalization of $905.30 million, a PE ratio of 5.33 and a beta of 1.76.

Caleres (NYSE:CALGet Rating) last released its earnings results on Tuesday, August 23rd. The textile maker reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.06. Caleres had a net margin of 5.92% and a return on equity of 48.52%. The business had revenue of $738.33 million for the quarter, compared to analysts’ expectations of $736.05 million. During the same period last year, the company earned $1.19 earnings per share.

Institutional Trading of Caleres

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC raised its stake in shares of Caleres by 956.1% during the second quarter. Lazard Asset Management LLC now owns 1,299 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 1,176 shares during the period. USA Financial Portformulas Corp raised its stake in shares of Caleres by 40.1% during the third quarter. USA Financial Portformulas Corp now owns 1,384 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 396 shares during the period. Assetmark Inc. purchased a new stake in shares of Caleres during the second quarter valued at approximately $42,000. Trust Co. of Vermont bought a new stake in shares of Caleres in the second quarter worth $56,000. Finally, KBC Group NV bought a new stake in shares of Caleres in the second quarter worth $85,000. Hedge funds and other institutional investors own 86.70% of the company’s stock.

Insider Activity at Caleres

In related news, CEO Diane M. Sullivan sold 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $27.26, for a total value of $89,958.00. Following the transaction, the chief executive officer now owns 176,936 shares in the company, valued at $4,823,275.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Diane M. Sullivan sold 2,440 shares of Caleres stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $26.32, for a total transaction of $64,220.80. Following the sale, the chief executive officer now owns 180,236 shares in the company, valued at $4,743,811.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Diane M. Sullivan sold 3,300 shares of Caleres stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $27.26, for a total transaction of $89,958.00. Following the sale, the chief executive officer now owns 176,936 shares in the company, valued at approximately $4,823,275.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,520 shares of company stock worth $692,710. Company insiders own 4.90% of the company’s stock.

Caleres Company Profile

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Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children.

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Earnings History and Estimates for Caleres (NYSE:CAL)

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