Caleres Inc. (NYSE:CAL) – Stock analysts at Jefferies Group raised their FY2017 earnings per share estimates for Caleres in a research report issued to clients and investors on Wednesday. Jefferies Group analyst R. Konik now anticipates that the firm will post earnings per share of $2.08 for the year, up from their previous estimate of $2.02. Jefferies Group currently has a “Hold” rating and a $27.00 price target on the stock. Jefferies Group also issued estimates for Caleres’ FY2018 earnings at $2.36 EPS.

Several other research analysts have also issued reports on CAL. Morgan Stanley restated a “hold” rating and set a $30.00 price target on shares of Caleres in a report on Wednesday, September 7th. Zacks Investment Research downgraded shares of Caleres from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Finally, Susquehanna assumed coverage on shares of Caleres in a research report on Friday, September 16th. They set a “neutral” rating and a $25.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $29.50.

Earnings History and Estimates for Caleres (NYSE:CAL)

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Caleres (NYSE:CAL) traded up 1.14% during mid-day trading on Monday, reaching $32.92. 39,848 shares of the company’s stock traded hands. The company has a 50 day moving average price of $26.59 and a 200-day moving average price of $25.33. The stock has a market cap of $1.38 billion, a P/E ratio of 17.07 and a beta of 0.52. Caleres has a 12 month low of $21.27 and a 12 month high of $33.70.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.01. Caleres had a net margin of 3.28% and a return on equity of 13.76%. The firm had revenue of $732.20 million for the quarter, compared to analyst estimates of $734.09 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year.

Hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan increased its stake in Caleres by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,690 shares of the company’s stock valued at $245,000 after buying an additional 160 shares during the last quarter. PineBridge Investments L.P. increased its stake in Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock valued at $134,000 after buying an additional 199 shares during the last quarter. Arizona State Retirement System increased its stake in Caleres by 0.9% in the second quarter. Arizona State Retirement System now owns 22,642 shares of the company’s stock valued at $548,000 after buying an additional 200 shares during the last quarter. US Bancorp DE increased its stake in Caleres by 2.2% in the second quarter. US Bancorp DE now owns 10,500 shares of the company’s stock valued at $254,000 after buying an additional 225 shares during the last quarter. Finally, FineMark National Bank & Trust increased its stake in Caleres by 0.3% in the third quarter. FineMark National Bank & Trust now owns 123,528 shares of the company’s stock valued at $3,124,000 after buying an additional 327 shares during the last quarter. 85.29% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Jefferies Group Comments on Caleres Inc.’s FY2017 Earnings (CAL)” was reported by Financial Market News and is the sole property of of Financial Market News. If you are accessing this piece on another website, it was stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece can be accessed at http://www.financial-market-news.com/jefferies-group-comments-on-caleres-inc-s-fy2017-earnings-cal/1210654/.

About Caleres

Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.

5 Day Chart for NYSE:CAL

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