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

Caleres Inc (NYSE:CAL) declared a quarterly dividend on Friday, May 31st, NASDAQ reports. Shareholders of record on Monday, June 17th will be given a dividend of 0.07 per share by the textile maker on Monday, July 1st. This represents a $0.28 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, June 14th.

Caleres has raised its dividend payment by an average of 26.0% annually over the last three years. Caleres has a payout ratio of 11.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Caleres to earn $2.63 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 10.6%.

Shares of NYSE:CAL traded down $0.28 during trading hours on Monday, hitting $19.64. 1,194,700 shares of the company’s stock traded hands, compared to its average volume of 623,258. Caleres has a 52 week low of $18.00 and a 52 week high of $41.09. The company’s fifty day simple moving average is $20.77. The stock has a market cap of $841.11 million, a P/E ratio of 8.89 and a beta of 0.95. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.26 and a current ratio of 0.97.

Caleres (NYSE:CAL) last announced its earnings results on Monday, June 3rd. The textile maker reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. Caleres had a negative net margin of 0.47% and a positive return on equity of 13.16%. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $672.90 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Caleres’s revenue was up 7.2% compared to the same quarter last year. Analysts expect that Caleres will post 2.4 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday, April 22nd. Wedbush reiterated an “outperform” rating on shares of Caleres in a research note on Tuesday, March 12th. Zacks Investment Research upgraded shares of Caleres from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Loop Capital upgraded shares of Caleres from a “hold” rating to a “buy” rating and boosted their target price for the company from $26.00 to $32.00 in a research note on Wednesday, April 10th. Finally, TheStreet downgraded shares of Caleres from a “b-” rating to a “c” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Caleres has a consensus rating of “Hold” and an average price target of $37.80.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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Dividend History for Caleres (NYSE:CAL)

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