As we approach the consultancy company Caleres’ earnings results announcement before the market opens on June 1st, investors are awaiting highly anticipated news. Current analyst forecasts put earnings per share expected to be at $0.93 for the quarter.
Several institutional investors have recently bought and sold shares of stock in Caleres, indicating continued investor interest in this textile maker. Acadian Asset Management LLC made a significant investment into Caleres during the first quarter worth $32,000 while Captrust Financial Advisors raised its position by 30.4% in this company during the same time period resulting in owning 5,467 shares worth $106,000; an increase of 1,275 shares over the previous quarter.
Point72 Middle East FZE made a brand new position in Caleres during last year’s fourth quarter with approximately $143,000 invested and Point72 Hong Kong Ltd raised its position by more than five times during the first quarter of this year amounting to nearly $178,000 with an additional purchase of 7,717 shares. Finally, Hsbc Holdings PLC invested approximately $255,000 during the first quarter as well.
It is worth noting that a significant portion of Caleres’ current stock (87.46%) is currently owned by institutional investors and various hedge funds.
The textile firm also announced a quarterly dividend on April 6th that paid out to shareholders who were registered as of March 23rd consisting of $0.07 per share was paid out to their record holders which implies an annualized dividend worth $0.28 and yielding at 1.38%. It should be noted that on March 22nd (the day before), these dividends become ex-dividend.
These recent investments coupled with solid financial reporting by caleres makes this company interesting for future opportunities for both individual and institutional investors alike.
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Celebrating Caleres: Strong Q1 2023 Earnings and Positive Investor Sentiment
Caleres Reports Strong Earnings in First Quarter of 2023
Caleres, the renowned textile maker, has reported a net margin of 6.12% and a return on equity of 42.45% in their latest earnings report released on March 14th, beating the consensus estimate by $0.01 with an EPS of $0.65 for the quarter. The company also posted a revenue of $696.40 million compared to analysts’ expectations of $691.56 million.
The quarterly revenue showed a modest increase of 2.5% on a year-over-year basis with an average expectation from analysts that Caleres will post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of Caleres stock opened at $20.27 on Thursday with a market cap standing at $735.80 million and a price-to-earnings (P/E) ratio of 4.13, demonstrating stable growth potential despite its fluctuations in lucrative opportunities such as fashion industries.
Industry experts have pointed to positive sentiment among investors towards Caleres with Piper Sandler upgrading shares from “neutral” to “overweight” rating and raising the price target from $26.00 to $35.00 in their latest report released on February 21st.
Additionally, StockNews.com assumed coverage on shares of Caleres recently issuing a buy rating urging investors seeking short to mid-term investment gains to own this profitable stock.
Overall, Caleres has proven its worth time and again as one of the leading textile makers globally by consistently delivering strong financials backed by quality products and services expected by their loyal customer base which includes some notable fashion brands globally – and it seems that trend is set to continue in the coming years as standards remain high while demand shows no signs of slowing down anytime soon!
