Caleres (NYSE:CAL) Issues Q3 2024 Earnings Guidance

Caleres (NYSE:CAL) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.300-1.400 for the period, compared to the consensus estimate of 1.500. The company issued revenue guidance of $746.7 million-$761.9 million, compared to the consensus revenue estimate of $764.4 million. Caleres also updated its FY 2024 guidance to 4.000-4.150 EPS.

Caleres Trading Down 18.8 %

Shares of CAL stock opened at $30.23 on Friday. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 6.40 and a beta of 1.93. Caleres has a 1-year low of $24.71 and a 1-year high of $44.51. The stock’s fifty day simple moving average is $37.48 and its 200-day simple moving average is $36.90.

Caleres (NYSE:CAL) last issued its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The business had revenue of $683.30 million during the quarter, compared to analyst estimates of $723.80 million. Caleres had a net margin of 5.97% and a return on equity of 27.32%. Caleres’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, sell-side analysts predict that Caleres will post 4.4 EPS for the current year.

Caleres Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, September 13th. Caleres’s dividend payout ratio (DPR) is currently 5.93%.

Analyst Upgrades and Downgrades

CAL has been the subject of several recent research reports. StockNews.com lowered Caleres from a buy rating to a hold rating in a report on Wednesday. Loop Capital lowered Caleres from a buy rating to a hold rating and set a $45.00 price target for the company. in a report on Tuesday, September 3rd.

Insider Transactions at Caleres

In other Caleres news, insider Diane M. Sullivan sold 19,764 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $33.66, for a total value of $665,256.24. Following the completion of the sale, the insider now owns 173,816 shares of the company’s stock, valued at $5,850,646.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Diane M. Sullivan sold 19,764 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $33.66, for a total transaction of $665,256.24. Following the completion of the transaction, the insider now owns 173,816 shares in the company, valued at $5,850,646.56. The disclosure for this sale can be found here. Insiders have sold a total of 42,181 shares of company stock worth $1,447,208 in the last 90 days. 3.80% of the stock is owned by insiders.

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.