Caleres (NYSE:CAL) Releases Q3 Earnings Guidance

Caleres (NYSE:CAL) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.30-1.40 for the period, compared to the consensus earnings per share estimate of $1.49. The company issued revenue guidance of flat to down 2%, compared to the consensus revenue estimate of $766.21 million. Caleres also updated its FY 2024 guidance to 4.000-4.150 EPS.

Caleres Stock Performance

Shares of CAL opened at $37.25 on Thursday. The firm has a market cap of $1.31 billion, a P/E ratio of 7.89 and a beta of 1.93. Caleres has a twelve month low of $24.71 and a twelve month high of $44.51. The firm’s 50 day moving average price is $37.53 and its two-hundred day moving average price is $36.95.

Caleres Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Friday, September 13th. Caleres’s payout ratio is presently 5.93%.

Analyst Ratings Changes

A number of analysts have recently commented on CAL shares. StockNews.com lowered Caleres from a buy rating to a hold rating in a report on Wednesday. Loop Capital cut Caleres from a buy rating to a hold rating and set a $45.00 target price on the stock. in a research note on Tuesday, September 3rd.

Insider Activity

In other Caleres news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Carla C. Hendra sold 5,349 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Diane M. Sullivan sold 17,068 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total value of $605,060.60. Following the completion of the sale, the insider now owns 150,449 shares in the company, valued at approximately $5,333,417.05. The disclosure for this sale can be found here. Insiders sold 42,181 shares of company stock worth $1,447,208 in the last quarter. Corporate 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.