Caleres (NYSE:CAL) Hits New 12-Month Low on Disappointing Earnings

Caleres, Inc. (NYSE:CAL)’s share price reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $26.96 and last traded at $27.11, with a volume of 21028 shares. The stock had previously closed at $33.20.

The textile maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Caleres had a net margin of 5.84% and a return on equity of 24.63%. The business had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same period in the previous year, the company posted $1.37 earnings per share. Caleres’s quarterly revenue was down 2.8% on a year-over-year basis.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Loop Capital dropped their price target on Caleres from $45.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, September 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAL. Pacer Advisors Inc. acquired a new stake in Caleres during the 3rd quarter valued at $49,783,000. FMR LLC lifted its position in shares of Caleres by 30.1% in the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock valued at $30,735,000 after acquiring an additional 215,372 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Caleres by 25.6% during the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after acquiring an additional 183,594 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Caleres during the 3rd quarter worth about $4,184,000. Finally, Millennium Management LLC raised its stake in Caleres by 58.8% in the 2nd quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock valued at $7,428,000 after purchasing an additional 81,836 shares during the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Caleres Stock Performance

The company has a market capitalization of $935.26 million, a PE ratio of 5.75 and a beta of 1.92. The stock’s fifty day simple moving average is $31.19 and its 200-day simple moving average is $34.25.

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.