Caleres, Inc. (CAL) to Issue Quarterly Dividend of $0.07 on October 2nd

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.

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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.

Dividend History for Caleres (NYSE:CAL)

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