Caleres (NYSE:CAL) Updates FY23 Earnings Guidance

Caleres (NYSE:CALGet Rating) updated its FY23 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.20-4.40 for the period, compared to the consensus earnings per share estimate of $3.92. The company issued revenue guidance of $2.83-2.92 billion, compared to the consensus revenue estimate of $2.88 billion.Caleres also updated its FY 2022 guidance to $4.20-$4.40 EPS.

A number of brokerages recently weighed in on CAL. StockNews.com upgraded shares of Caleres from a buy rating to a strong-buy rating in a research note on Monday, April 11th. Zacks Investment Research cut shares of Caleres from a buy rating to a hold rating in a research note on Tuesday, March 15th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $33.00.

CAL traded down $1.50 during trading on Tuesday, reaching $20.93. The company had a trading volume of 1,843,762 shares, compared to its average volume of 651,915. The firm’s 50-day simple moving average is $22.02 and its 200 day simple moving average is $22.66. The company has a market cap of $794.71 million, a price-to-earnings ratio of 5.90 and a beta of 2.09. Caleres has a 12-month low of $17.82 and a 12-month high of $29.36.

Caleres (NYSE:CALGet Rating) last released its earnings results on Tuesday, May 24th. The textile maker reported $1.32 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.49. Caleres had a return on equity of 61.12% and a net margin of 4.93%. The company had revenue of $735.12 million for the quarter, compared to analysts’ expectations of $677.28 million. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts anticipate that Caleres will post 3.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Thursday, March 24th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 23rd. This represents a $0.28 annualized dividend and a dividend yield of 1.34%. Caleres’s dividend payout ratio is 7.89%.

In other news, Director Carla C. Hendra sold 3,261 shares of Caleres stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $20.74, for a total transaction of $67,633.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Diane M. Sullivan sold 35,915 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $25.18, for a total value of $904,339.70. Following the completion of the sale, the chief executive officer now owns 621,446 shares of the company’s stock, valued at $15,648,010.28. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors increased its position in Caleres by 30.4% in the 1st quarter. Captrust Financial Advisors now owns 5,467 shares of the textile maker’s stock worth $106,000 after buying an additional 1,275 shares during the period. Point72 Hong Kong Ltd increased its position in Caleres by 523.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 9,191 shares of the textile maker’s stock worth $178,000 after buying an additional 7,717 shares during the period. Hsbc Holdings PLC bought a new position in Caleres in the 1st quarter worth approximately $255,000. Prelude Capital Management LLC bought a new position in Caleres in the 1st quarter worth approximately $355,000. Finally, Renaissance Technologies LLC bought a new position in Caleres in the 1st quarter worth approximately $363,000. Hedge funds and other institutional investors own 81.45% of the company’s stock.

Caleres Company Profile (Get Rating)

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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