Caleres (NYSE:CAL) Sets New 52-Week Low After Earnings Miss

Caleres, Inc. (NYSE:CAL)’s stock price hit a new 52-week low 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 traded. The stock had previously closed at $33.20.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Caleres

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Caleres during the 3rd quarter worth $49,783,000. FMR LLC lifted its position in 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 buying an additional 215,372 shares during the last quarter. American Century Companies Inc. boosted its stake in Caleres by 25.6% during the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock worth $30,302,000 after buying an additional 183,594 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Caleres during the third quarter valued at about $4,184,000. Finally, Millennium Management LLC raised its stake in shares of 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 acquiring an additional 81,836 shares during the period. Hedge funds and other institutional investors own 98.44% of the company’s stock.

Caleres Trading Down 20.0 %

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

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.