Shares of Caleres Inc. (NYSE:CAL) reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $31.99 and last traded at $31.83, with a volume of 1,210,212 shares changing hands. The stock had previously closed at $28.45.
The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. Caleres had a net margin of 3.28% and a return on equity of 13.76%. The firm had revenue of $732.20 million for the quarter, compared to the consensus estimate of $734.09 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The business’s revenue was up .5% compared to the same quarter last year.
A number of research firms have weighed in on CAL. Morgan Stanley reiterated a “hold” rating and set a $30.00 price target on shares of Caleres in a research note on Wednesday, September 7th. Jefferies Group lifted their price target on shares of Caleres from $24.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Caleres from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Finally, Susquehanna began coverage on shares of Caleres in a research note on Friday, September 16th. They set a “neutral” rating and a $25.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.17.
Several large investors have recently modified their holdings of the stock. BlackRock Group LTD increased its position in shares of Caleres by 15.0% in the first quarter. BlackRock Group LTD now owns 46,147 shares of the company’s stock valued at $1,306,000 after buying an additional 6,024 shares during the period. Victory Capital Management Inc. increased its position in shares of Caleres by 7.1% in the second quarter. Victory Capital Management Inc. now owns 2,279,385 shares of the company’s stock valued at $55,184,000 after buying an additional 150,246 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Caleres by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,845,467 shares of the company’s stock valued at $68,888,000 after buying an additional 123,786 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Caleres by 97.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,831 shares of the company’s stock valued at $359,000 after buying an additional 7,332 shares during the period. Finally, Shell Asset Management Co. bought a new position in shares of Caleres during the second quarter valued at about $851,000. Institutional investors own 85.04% of the company’s stock.
The stock has a 50-day moving average of $26.19 and a 200 day moving average of $25.17. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 17.19 and a beta of 0.52.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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