Caleres, Inc. Declares Quarterly Dividend of $0.07 (NYSE:CAL)

Caleres, Inc. (NYSE:CAL) declared a quarterly dividend on Friday, December 13th,RTT News reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.07 per share by the textile maker on Friday, January 10th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.12%.

Caleres has a payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Caleres to earn $4.04 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 6.9%.

Caleres Stock Performance

NYSE CAL traded up $0.31 during mid-day trading on Friday, reaching $25.01. 801,859 shares of the stock were exchanged, compared to its average volume of 552,826. The stock has a market capitalization of $880.35 million, a PE ratio of 5.50 and a beta of 1.92. Caleres has a 1-year low of $24.51 and a 1-year high of $44.51. The business’s fifty day simple moving average is $30.58 and its 200 day simple moving average is $33.90.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a return on equity of 22.71% and a net margin of 5.69%. The business had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. During the same quarter last year, the business earned $1.37 EPS. Caleres’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Caleres will post 3.5 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Loop Capital reduced their target price on Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, December 6th. StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

About Caleres

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.