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 EPS guidance of 3.200-3.300 for the period, compared to the consensus EPS 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 Ratings Changes

CAL has been the topic of a number of recent research reports. Loop Capital cut their target price on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, December 6th. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

Caleres Trading Down 0.5 %

Shares of Caleres stock opened at $20.04 on Friday. The company’s 50-day moving average price is $24.94 and its 200-day moving average price is $31.31. Caleres has a 12-month low of $19.21 and a 12-month high of $44.51. The company has a market cap of $673.98 million, a price-to-earnings ratio of 4.46 and a beta of 1.96.

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

Caleres Dividend Announcement

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

Insider Buying and Selling at Caleres

In other news, Director Kyle Gendreau purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $99,650. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.

Caleres Company Profile

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.