Analysts Set Caleres, Inc. (NYSE:CAL) Target Price at $34.00

Posted by admin on May 26th, 2023

Shares of Caleres, Inc. (NYSE:CAL – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $30.00.

A number of research analysts recently issued reports on the company. Piper Sandler downgraded Caleres from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $25.00 in a report on Thursday. StockNews.com assumed coverage on Caleres in a research report on Thursday, May 18th. They set a “buy” rating for the company.

Caleres Trading Down 8.7 %

NYSE CAL opened at $18.51 on Friday. Caleres has a 12 month low of $18.22 and a 12 month high of $31.13. The stock has a 50-day simple moving average of $22.16 and a 200 day simple moving average of $23.45. The company has a market capitalization of $671.91 million, a PE ratio of 3.77 and a beta of 1.76.

Caleres (NYSE:CAL – Get Rating) last announced its quarterly earnings results on Tuesday, March 14th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. Caleres had a return on equity of 42.45% and a net margin of 6.12%. The company had revenue of $696.40 million during the quarter, compared to the consensus estimate of $691.56 million. During the same period in the prior year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that Caleres will post 4.18 earnings per share for the current fiscal year.

Caleres Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 6th. Stockholders of record on Thursday, March 23rd were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.51%. Caleres’s payout ratio is 5.70%.

Institutional Trading of Caleres

A number of hedge funds have recently made changes to their positions in CAL. Bank of New York Mellon Corp lifted its position in shares of Caleres by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 445,331 shares of the textile maker’s stock valued at $8,608,000 after buying an additional 3,167 shares during the last quarter. Citigroup Inc. increased its stake in shares of Caleres by 6.3% during the first quarter. Citigroup Inc. now owns 36,560 shares of the textile maker’s stock worth $706,000 after purchasing an additional 2,172 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Caleres during the first quarter worth approximately $535,000. MetLife Investment Management LLC increased its stake in shares of Caleres by 53.3% during the first quarter. MetLife Investment Management LLC now owns 20,589 shares of the textile maker’s stock worth $398,000 after purchasing an additional 7,161 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of Caleres by 6.9% during the first quarter. Panagora Asset Management Inc. now owns 42,925 shares of the textile maker’s stock worth $830,000 after purchasing an additional 2,776 shares during the period. 87.46% of the stock is owned by institutional investors and hedge funds.

Caleres Company Profile

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Caleres, Inc engages in the provision of athletic, casual, and dress footwear products. It operates through the Famous Footwear and Brand Portfolio segments. The Famous Footwear segment provides branded footwear for the entire family. The Brand Portfolio segment sources, manufactures, and markets branded, licensed, and private-labeled footwear primarily to online retailers, national chains, department stores, mass merchandisers, and independent retailers.