Caleres (NYSE:CAL) Releases FY 2024 Earnings Guidance

Caleres (NYSE:CAL - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.200-3.300 for the period, compared to the consensus earnings per share 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

CAL stock traded down $0.10 during midday trading on Friday, hitting $20.04. 545,322 shares of the stock were exchanged, compared to its average volume of 655,188. The stock's 50-day moving average price is $24.94 and its 200-day moving average price is $31.31. The stock has a market cap of $673.98 million, a price-to-earnings ratio of 4.46 and a beta of 1.96. Caleres has a fifty-two week low of $19.21 and a fifty-two week high of $44.51.

Caleres (NYSE:CAL - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a return on equity of 22.71% and a net margin of 5.69%. The firm had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. During the same period last year, the firm earned $1.37 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Caleres will post 3.24 EPS for the current year.

Caleres Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.07 dividend. 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%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CAL shares. Loop Capital cut their target price on shares of Caleres from $30.00 to $25.00 and set a "hold" rating for the company in a research note on Friday, December 6th. StockNews.com downgraded shares of Caleres from a "buy" rating to a "hold" rating in a research note on Thursday, October 3rd.

Insider Buying and Selling

In related news, Director Kyle Gendreau acquired 5,000 shares of the company's stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $19.93 per share, with a total value of $99,650.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $99,650. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by company 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.