Caleres Inc. (CAL) closed at $22 in the latest trading session, marking a -0.95% move from the prior day. This change was narrower than the S&P 500’s daily loss of 1.89%. At the same time, the Dow lost 1.3%, and the tech-heavy Nasdaq lost 0.17%.
Heading into today, shares of the footwear wholesaler and retailer had gained 1.6% over the past month, outpacing the Consumer Discretionary sector’s loss of 3.32% and the S&P 500’s loss of 1.79% in that time.
Investors will be hoping for strength from Caleres Inc. as it approaches its next earnings release. In that report, analysts expect Caleres Inc. to post earnings of $0.67 per share. This would mark year-over-year growth of 2133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $677.95 million, up 18.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.06 per share and revenue of $2.8 billion, which would represent changes of +390% and +32.41%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Caleres Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.65% higher. Caleres Inc. is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Caleres Inc. is currently trading at a Forward P/E ratio of 5.48. This valuation marks a discount compared to its industry’s average Forward P/E of 14.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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