Caleres (NYSE:CAL) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Caleres, Inc.'s stock price recently crossed above its 200-day moving average, reaching a high of $15.63, indicating potential upward momentum.
• Analysts have downgraded their ratings for Caleres, with a consensus rating of "Reduce" and an average target price of $14.00.
• The company reported earnings per share of $0.35, missing the consensus estimate of $0.51, and experienced a 3.6% year-over-year revenue decline.

Caleres, Inc. (NYSE:CAL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.08 and traded as high as $15.63. Caleres shares last traded at $15.60, with a volume of 864,265 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Loop Capital reduced their target price on Caleres from $16.00 to $14.00 and set a "hold" rating for the company in a report on Friday, May 30th. Zacks Research cut Caleres from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $14.00.

Caleres Stock Performance

The company has a market capitalization of $484.59 million, a P/E ratio of 8.18 and a beta of 1.08. The stock has a 50 day moving average price of $14.70 and a 200 day moving average price of $15.06.

Caleres (NYSE:CAL - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.16). Caleres had a net margin of 2.26% and a return on equity of 11.91%. The firm had revenue of $658.52 million during the quarter, compared to the consensus estimate of $656.93 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company's revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Caleres's payout ratio is currently 16.00%.

Institutional Investors Weigh In On Caleres

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Caleres by 1,087.7% in the 4th quarter. Millennium Management LLC now owns 180,822 shares of the textile maker's stock valued at $4,188,000 after acquiring an additional 165,598 shares during the period. Tidal Investments LLC bought a new stake in shares of Caleres during the fourth quarter valued at about $406,000. Royce & Associates LP increased its position in shares of Caleres by 4.9% during the first quarter. Royce & Associates LP now owns 843,445 shares of the textile maker's stock valued at $14,533,000 after buying an additional 39,067 shares during the period. American Century Companies Inc. increased its position in shares of Caleres by 6.0% during the first quarter. American Century Companies Inc. now owns 1,216,998 shares of the textile maker's stock valued at $20,969,000 after buying an additional 68,779 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of Caleres by 148.2% during the first quarter. Pacific Ridge Capital Partners LLC now owns 50,076 shares of the textile maker's stock valued at $863,000 after buying an additional 29,900 shares during the period. 98.44% of the stock is currently owned by institutional investors.

Caleres Company Profile

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.