Caleres (NYSE:CAL) Stock Price Up 13.5%

Caleres Inc (NYSE:CAL)’s stock price rose 13.5% during mid-day trading on Wednesday . The stock traded as high as $6.11 and last traded at $6.55, approximately 26,447 shares were traded during mid-day trading. A decline of 98% from the average daily volume of 1,089,364 shares. The stock had previously closed at $5.77.

CAL has been the topic of several research analyst reports. Susquehanna Bancshares downgraded Caleres from a “positive” rating to a “hold” rating and set a $9.00 price target on the stock. in a research report on Thursday, March 12th. Zacks Investment Research downgraded Caleres from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Wedbush lowered their price target on Caleres from $27.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. ValuEngine downgraded Caleres from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Caleres in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.80.

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.04 and a quick ratio of 0.31. The company’s 50 day moving average is $11.10 and its two-hundred day moving average is $19.46. The firm has a market cap of $233.89 million, a P/E ratio of 3.98 and a beta of 1.15.

Caleres (NYSE:CAL) last released its earnings results on Thursday, March 12th. The textile maker reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.14. Caleres had a net margin of 2.15% and a return on equity of 13.52%. The business had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $698.18 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Research analysts predict that Caleres Inc will post 2 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Tuesday, March 17th. Caleres’s payout ratio is presently 13.33%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its stake in shares of Caleres by 13.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,692,901 shares of the textile maker’s stock valued at $40,207,000 after buying an additional 200,883 shares during the period. Royce & Associates LP lifted its stake in Caleres by 0.5% during the fourth quarter. Royce & Associates LP now owns 1,450,851 shares of the textile maker’s stock worth $34,458,000 after purchasing an additional 7,700 shares during the period. Schroder Investment Management Group lifted its stake in Caleres by 7.8% during the fourth quarter. Schroder Investment Management Group now owns 884,220 shares of the textile maker’s stock worth $21,000,000 after purchasing an additional 64,310 shares during the period. Norges Bank bought a new position in Caleres during the fourth quarter worth about $19,271,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Caleres by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 660,621 shares of the textile maker’s stock worth $15,690,000 after purchasing an additional 41,079 shares during the period. Institutional investors and hedge funds own 97.93% of the company’s stock.

Caleres Company Profile (NYSE:CAL)

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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