Caleres, Inc. Declares Quarterly Dividend of $0.07 (NYSE:CAL)

Caleres, Inc. (NYSE:CAL) declared a quarterly dividend on Friday, December 13th,RTT News reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.07 per share by the textile maker on Friday, January 10th. This represents a $0.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, December 27th.

Caleres has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Caleres to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 6.9%.

Caleres Trading Up 0.8 %

Shares of NYSE:CAL opened at $23.13 on Wednesday. The firm has a market cap of $777.84 million, a PE ratio of 5.15 and a beta of 1.92. The company has a fifty day simple moving average of $29.37 and a 200 day simple moving average of $33.29. Caleres has a 12-month low of $22.07 and a 12-month high of $44.51.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm had revenue of $740.90 million during the quarter, compared to the consensus estimate of $751.35 million. During the same quarter last year, the firm posted $1.37 earnings per share. Caleres’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Caleres will post 3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.