Caleres (NYSE:CAL) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Caleres shares crossed above its 200-day moving average (200‑day MA $12.14), trading as high as $13.34 and last at $12.64 on volume of 837,499 shares.
• The company beat Q results with EPS of ($0.36) vs. ($0.40) expected and revenue of $695.06 million, up 8.7% year‑over‑year.
• Analysts are mixed: the consensus rating is Reduce with a $14 price target, although Seaport upgraded to a Buy and raised its target to $16 while other firms maintain Hold or Sell views.

Caleres, Inc. (NYSE:CAL - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.14 and traded as high as $13.34. Caleres shares last traded at $12.64, with a volume of 837,499 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Seaport Research Partners lifted their price objective on Caleres from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Caleres in a research note on Wednesday, January 21st. Finally, Zacks Research raised Caleres from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $14.00.

Caleres Price Performance

The stock has a market capitalization of $426.47 million, a price-to-earnings ratio of -57.45 and a beta of 0.71. The business has a 50 day simple moving average of $11.63 and a 200-day simple moving average of $12.14.

Caleres (NYSE:CAL - Get Free Report) last posted its earnings results on Thursday, March 19th. The textile maker reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.04. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The firm had revenue of $695.06 million during the quarter, compared to analysts' expectations of $688.43 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company's revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Caleres, Inc. will post 1.5 earnings per share for the current year.

Caleres Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, March 26th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, March 26th. Caleres's payout ratio is presently -127.27%.

Institutional Trading of Caleres

A number of institutional investors have recently modified their holdings of CAL. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Caleres by 56,997.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,836,841 shares of the textile maker's stock valued at $22,354,000 after purchasing an additional 1,833,624 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Caleres by 120.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,072,550 shares of the textile maker's stock valued at $13,986,000 after purchasing an additional 586,020 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Caleres by 86.3% in the fourth quarter. Federated Hermes Inc. now owns 937,391 shares of the textile maker's stock valued at $11,408,000 after purchasing an additional 434,269 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Caleres in the fourth quarter valued at about $4,338,000. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of Caleres by 39.1% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 911,599 shares of the textile maker's stock valued at $11,094,000 after purchasing an additional 256,155 shares in the last quarter. 98.44% of the stock is currently owned by institutional investors.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company's operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.

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