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

Caleres, Inc. (NYSE:CAL) announced a quarterly dividend on Friday, December 13th,RTT News reports. Investors of record on Friday, December 27th will be given a dividend of 0.07 per share by the textile maker on Friday, January 10th. This represents a $0.28 annualized dividend and a dividend yield of 1.12%.

Caleres has a dividend payout ratio of 6.2% meaning its dividend is sufficiently covered by earnings. Research 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 Up 1.3 %

CAL stock traded up $0.31 during trading on Friday, hitting $25.01. 801,859 shares of the company’s stock traded hands, compared to its average volume of 552,826. The stock has a market capitalization of $880.35 million, a price-to-earnings ratio of 5.50 and a beta of 1.92. Caleres has a 52 week low of $24.51 and a 52 week high of $44.51. The stock has a fifty day moving average price of $30.58 and a two-hundred day moving average price of $33.90.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Caleres had a net margin of 5.69% and a return on equity of 22.71%. The business had revenue of $740.90 million for the quarter, compared to the consensus estimate of $751.35 million. During the same period in the prior year, the company earned $1.37 EPS. Caleres’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts expect that Caleres will post 3.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAL. StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Loop Capital reduced 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.

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.