Caleres (NYSE:CAL) Issues FY 2024 Earnings Guidance

Caleres (NYSE:CAL) updated its FY 2024 earnings guidance on Friday. 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.

Caleres Stock Performance

Shares of CAL opened at $20.04 on Friday. The firm’s 50 day moving average price is $24.94 and its two-hundred day moving average price is $31.31. Caleres has a twelve month low of $19.21 and a twelve month high of $44.51. The firm has a market cap of $673.98 million, a P/E ratio of 4.46 and a beta of 1.96.

Caleres (NYSE:CAL) last announced its 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). The company had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. Caleres’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. On average, sell-side analysts anticipate that Caleres will post 3.24 earnings per share for the current fiscal year.

Caleres Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Kyle Gendreau acquired 5,000 shares of Caleres stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $19.93 per share, with a total value of $99,650.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $99,650. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by insiders.

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.