Cato (NYSE:CATO) Releases 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) released its quarterly earnings results on Thursday. The specialty retailer reported $0.35 EPS for the quarter, Zacks reports. Cato had a negative net margin of 2.93% and a negative return on equity of 11.29%. The firm had revenue of $176.51 million during the quarter.

Cato Price Performance

NYSE:CATO traded down $0.07 on Tuesday, reaching $3.99. The stock had a trading volume of 21,000 shares, compared to its average volume of 69,084. The company has a market cap of $78.76 million, a price-to-earnings ratio of -3.95 and a beta of 0.85. The firm's fifty day moving average is $2.95 and its two-hundred day moving average is $2.89. Cato has a 12-month low of $2.19 and a 12-month high of $6.70.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cato stock. Goldman Sachs Group Inc. lifted its stake in shares of Cato Corporation (The) (NYSE:CATO - Free Report) by 76.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,437 shares of the specialty retailer's stock after acquiring an additional 20,521 shares during the period. Goldman Sachs Group Inc. owned 0.24% of Cato worth $158,000 as of its most recent SEC filing. 61.10% of the stock is 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.