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. Stockholders 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 dividend yield of 1.12%.

Caleres has a payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.3 %

CAL stock opened at $25.01 on Friday. Caleres has a 12 month low of $24.51 and a 12 month high of $44.51. The stock has a market cap of $841.06 million, a PE ratio of 5.57 and a beta of 1.92. The company has a 50-day moving average price of $30.43 and a 200 day moving average price of $33.79.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a return on equity of 22.71% and a net margin of 5.69%. The business had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that Caleres will post 3.5 EPS for the current year.

Analyst Ratings Changes

CAL has been the topic of several recent analyst reports. StockNews.com downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital decreased their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, December 6th.

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.