Caleres (NYSE:CAL) Reaches New 1-Year Low Following Weak Earnings

Caleres, Inc. (NYSE:CAL)’s share price hit 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 trading hands. The stock had previously closed at $33.20.

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

Analyst Upgrades and Downgrades

CAL has been the subject of a number of recent analyst reports. Loop Capital decreased their target price on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Friday. StockNews.com lowered shares of Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.

Hedge Funds Weigh In On Caleres

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Caleres by 3.2% during the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after buying an additional 56,346 shares in the last quarter. State Street Corp lifted its position in shares of Caleres by 3.1% in the third quarter. State Street Corp now owns 1,519,912 shares of the textile maker’s stock worth $50,233,000 after purchasing an additional 46,230 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Caleres in the third quarter worth approximately $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 worth $30,735,000 after purchasing an additional 215,372 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Caleres by 25.6% in 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 last quarter. Institutional investors own 98.44% of the company’s stock.

Caleres Price Performance

The business has a fifty day moving average of $31.07 and a 200 day moving average of $34.19. The stock has a market cap of $956.76 million, a price-to-earnings ratio of 5.88 and a beta of 1.92.

About Caleres

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.