Caleres, Inc. to Issue Quarterly Dividend of $0.07 (NYSE:CAL)

Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Thursday, March 27th will be given a dividend of 0.07 per share by the textile maker on Friday, April 11th. This represents a $0.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, March 27th.

Caleres has a payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Caleres to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 7.5%.

Caleres Stock Performance

CAL stock opened at $17.60 on Tuesday. The company’s 50 day moving average price is $17.53 and its 200 day moving average price is $25.19. The firm has a market capitalization of $591.94 million, a price-to-earnings ratio of 3.92 and a beta of 1.82. Caleres has a fifty-two week low of $15.00 and a fifty-two week high of $44.51.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, March 20th. The textile maker reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $639.20 million for the quarter, compared to analyst estimates of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. Equities analysts forecast that Caleres will post 3.23 EPS for the current fiscal year.

Insider Transactions at Caleres

In other news, Director Kyle Gendreau acquired 5,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were bought at an average price 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 in the company, valued at $99,650. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

Separately, Loop Capital lowered their price objective on Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, December 6th.

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.