Cato (NYSE:CATO) Announces Quarterly Earnings Results

Key Points

• Cato reported a quarterly earnings per share (EPS) of $0.35 but faced challenges with a negative return on equity of 14.71% and a negative net margin of 4.02%.
• The stock price opened at $2.82 with a market capitalization of $55.66 million, and it has been recently upgraded from a "sell" to a "hold" rating by Wall Street Zen.
• Jacobs Levy Equity Management acquired a new stake in Cato, purchasing 52,265 shares valued at approximately $174,000, increasing institutional ownership to 61.10%.

Cato (NYSE:CATO - Get Free Report) posted its quarterly earnings results on Thursday. The specialty retailer reported $0.35 EPS for the quarter, Zacks reports. Cato had a negative return on equity of 14.71% and a negative net margin of 4.02%.

Cato Trading Up 0.4%

CATO stock opened at $2.82 on Thursday. The company's 50 day moving average is $2.91 and its 200 day moving average is $2.89. The stock has a market cap of $55.66 million, a price-to-earnings ratio of -2.09 and a beta of 0.85. Cato has a 1-year low of $2.19 and a 1-year high of $6.70.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Cato from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th.

Hedge Funds Weigh In On Cato

A hedge fund recently bought a new stake in Cato stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cato Corporation (The) (NYSE:CATO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 52,265 shares of the specialty retailer's stock, valued at approximately $174,000. Jacobs Levy Equity Management Inc. owned about 0.26% of Cato as of its most recent filing with the Securities and Exchange Commission. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Cato Company Profile

The Cato Corporation, together with its subsidiaries, operates as a specialty retailer of fashion apparel and accessories primarily in the southeastern United States. It operates through two segments, Retail and Credit. The company's stores and e-commerce websites offer a range of apparel and accessories, including dressy, career, and casual sportswear; and dresses, coats, shoes, lingerie, costume jewelry, and handbags, as well as men's wear, and lines for kids and infants.

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