Caleres, Inc. (CAL) to Issue Quarterly Dividend of $0.07 on April 11th

Caleres, Inc. (NYSE:CAL) declared a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders of record on Thursday, March 27th will be given a dividend of 0.07 per share by the textile maker on Friday, April 11th. This represents a $0.28 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, March 27th.

Caleres has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Caleres to earn $3.72 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 7.5%.

Caleres Stock Performance

CAL stock opened at $17.60 on Tuesday. Caleres has a one year low of $15.00 and a one year high of $44.51. The firm has a market cap of $591.94 million, a PE ratio of 3.92 and a beta of 1.82. The firm’s 50 day moving average price is $17.53 and its 200-day moving average price is $25.19.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, March 20th. The textile maker reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $639.20 million for the quarter, compared to the consensus estimate of $645.79 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities research analysts predict that Caleres will post 3.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Kyle Gendreau bought 5,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was bought at an average cost of $19.93 per share, with a total value of $99,650.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $99,650. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Loop Capital reduced their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, December 6th.

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.