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

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

Caleres Price Performance

Shares of CAL stock opened at $20.04 on Friday. The business has a fifty day moving average of $24.94 and a 200 day moving average of $31.31. Caleres has a 1 year low of $19.21 and a 1 year high of $44.51. The firm has a market capitalization of $673.98 million, a price-to-earnings ratio of 4.46 and a beta of 1.96.

Caleres (NYSE:CAL) last released its earnings results on Thursday, December 5th. The textile maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Caleres had a return on equity of 22.71% and a net margin of 5.69%. The firm had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. During the same period last year, the firm earned $1.37 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts expect that Caleres will post 3.24 earnings per share for the current year.

Caleres Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.40%. The ex-dividend date 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 stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $99,650. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.