Are Smart Investors Making the Right Decision? Caleres Inc. (CAL)

Caleres Inc. (NYSE: CAL) stock fell -9.97% on Wednesday to $24.83 against a previous-day closing price of $27.58. With 1.06 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $27.50 whereas the lowest price it dropped to was $24.55. The 52-week range on CAL shows that it touched its highest point at $31.13 and its lowest point at $17.82 during that stretch. It currently has a 1-year price target of $35.60. With its current market cap of 871.04 million, CAL has annualized dividend of $0.28 while the current yield stands at 1.13%. Beta for the stock currently stands at 1.75.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CAL was down-trending over the past week, with a drop of -5.55%, but this was down by -7.49% over a month. Three-month performance dropped to -7.25% while six-month performance fell -8.68%. The stock lost -10.68% in the past year, while it has gained 9.48% so far this year. A look at the trailing 12-month EPS for CAL yields 5.16 with Next year EPS estimates of 4.60. For the next quarter, that number is 1.12. This implies an EPS growth rate of 129.60% for this year and 6.83% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.60%.

Float and Shares Shorts:

At present, 35.03 million CAL shares are outstanding with a float of 34.97 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.26 million, which was 6.18% higher than short shares on Sep 14, 2022. In addition to Ms. Diane M. Sullivan as the firm’s Chairman & CEO, Mr. John W. Schmidt serves as its Pres.

Institutional Ownership:

Through their ownership of 91.87% of CAL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.59% of CAL, in contrast to 46.91% held by mutual funds. Shares owned by individuals account for 39.27%. As the largest shareholder in CAL with 15.00% of the stake, BlackRock Fund Advisors holds 5,469,775 shares worth 5,469,775. A second-largest stockholder of CAL, The Vanguard Group, Inc., holds 3,508,829 shares, controlling over 9.62% of the firm’s shares. Principal Global Investors LLC is the third largest shareholder in CAL, holding 2,664,897 shares or 7.31% stake. With a 7.48% stake in CAL, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,725,957 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.93% of CAL stock, is the second-largest Mutual Fund holder. It holds 1,067,019 shares valued at 29.16 million. iShares Russell 2000 ETF holds 2.12% of the stake in CAL, owning 773,202 shares worth 21.13 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CAL since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CAL analysts setting a high price target of $40.00 and a low target of $28.00, the average target price over the next 12 months is $36.00. Based on these targets, CAL could surge 61.1% to reach the target high and rise by 12.77% to reach the target low. Reaching the average price target will result in a growth of 44.99% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CAL will report FY 2023 earnings on 03/14/2023. Analysts have provided yearly estimates in a range of $4.40 being high and $4.31 being low. For CAL, this leads to a yearly average estimate of $4.35. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Caleres Inc. surprised analysts by $0.03 when it reported $1.15 EPS against a consensus estimate of $1.12. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is $0.54 and the low estimate is $0.46. The average estimate for the next quarter is thus $0.48.

Summary of Insider Activity:

Insiders traded CAL stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 19,650 shares were bought while 14,841 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 44 over the past year. The total number of shares bought during that period was 508,063 while 315,352 shares were sold.

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