Caleres, Inc. (CAL) to Issue Quarterly Dividend of $0.07 on January 10th

Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Friday, December 13th,RTT News reports. Investors of record on Friday, December 27th will be paid a dividend of 0.07 per share by the textile maker on Friday, January 10th. This represents a $0.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, December 27th.

Caleres has a payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Equities 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

Caleres stock opened at $23.13 on Wednesday. The company has a market capitalization of $777.84 million, a P/E ratio of 5.15 and a beta of 1.92. Caleres has a fifty-two week low of $22.07 and a fifty-two week high of $44.51. The stock has a 50-day simple moving average of $29.37 and a 200-day simple moving average of $33.29.

Caleres (NYSE:CAL) last issued its quarterly earnings results 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). The company had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. As a group, analysts forecast that Caleres will post 3.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAL. Loop Capital cut their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, December 6th. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.

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.