Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Thursday, August 24th, RTT News reports. Stockholders of record on Monday, September 18th will be paid a dividend of 0.07 per share by the textile maker on Monday, October 2nd. This represents a $0.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, September 15th.
Caleres has a dividend payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Caleres to earn $2.48 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 11.3%.
Shares of Caleres (NYSE:CAL) opened at 27.49 on Friday. The stock’s 50 day moving average is $26.08 and its 200 day moving average is $27.15. The stock has a market capitalization of $1.18 billion, a PE ratio of 19.55 and a beta of 1.06. Caleres has a 12 month low of $22.39 and a 12 month high of $36.61.
Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $677 million for the quarter, compared to analyst estimates of $668.85 million. Caleres had a net margin of 2.26% and a return on equity of 13.80%. Caleres’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. Analysts anticipate that Caleres will post $2.18 earnings per share for the current fiscal year.
A number of research firms recently weighed in on CAL. Zacks Investment Research upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday. Susquehanna Bancshares Inc restated a “buy” rating and set a $31.00 price target on shares of Caleres in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Caleres from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, TheStreet upgraded shares of Caleres from a “c+” rating to a “b-” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Caleres presently has an average rating of “Buy” and an average price target of $31.40.
TRADEMARK VIOLATION NOTICE: This news story was posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.themarketsdaily.com/2017/09/10/caleres-inc-cal-to-issue-quarterly-dividend-of-0-07-on-october-2nd.html.
Caleres Company Profile
Caleres, Inc is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. The Company operates through two segments: Famous Footwear and Brand Portfolio.
Receive News & Ratings for Caleres Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caleres Inc. and related companies with MarketBeat.com's FREE daily email newsletter.