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Understanding Caleres Inc. (NYSE: CAL)’s Growth Potential

Caleres Inc. (NYSE:CAL) shares, rose in value on Friday, May 26, with the stock price down by -1.13% to the previous day’s close as strong demand from buyers drove the stock to $18.30.

Actively observing the price movement in the last trading, the stock closed the session at $18.51, falling within a range of $18.10 and $18.70. The value of beta (5-year monthly) was 1.77 whereas the PE ratio was 3.69 over 12-month period. Referring to stock’s 52-week performance, its high was $31.13, and the low was $18.22. On the whole, CAL has fluctuated by -19.35% over the past month.

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With the market capitalization of Caleres Inc. currently standing at about $722.85 million, investors are eagerly awaiting this quarter’s results, scheduled for Jun 01, 2023. The company’s Forward Dividend Ratio is 0.28, with its dividend yield at 1.53%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.93, which is expected to increase to $1.31 for fiscal year $4.17 and then to about $4.58 by fiscal year 2025. Data indicates that the EPS growth is expected to be -7.70% in 2025, while the next year’s EPS growth is forecast to be 9.80%.

Analysts have estimated the company’s revenue for the quarter at $699.98 million, with a low estimate of $689.25 million and a high estimate of $705.56 million. According to the average forecast, sales growth in current quarter could jump down -4.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.98 billion, representing an increase of 0.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CAL’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0.25, with the price of CAL currently trading nearly -17.62% and -17.20% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 24.49, while the 7-day volatility ratio is showing 5.18% which for the 30-day chart, stands at 3.84%. Furthermore, Caleres Inc. (CAL)’s beta value is 1.76, and its average true range (ATR) is 0.97.

A comparison of Caleres Inc. (CAL) with its peers suggests the former has fared considerably weaker in the market. CAL showed an intraday change of -1.13% in last session, and over the past year, it shrunk by -32.70%%. In comparison, Rocky Brands Inc. (RCKY) has moved higher at 2.88% on the day and was down -45.86% over the past 12 months. On the other hand, the price of Skechers U.S.A. Inc. (SKX) has fallen -1.16% on the day. The stock, however, is off 41.98% from where it was a year ago. Additionally, there is a loss of -4.95% for Genesco Inc. (GCO) in last trading while the stock has seen an overall depriciation of -65.06%% over the past year. The PE ratio stands at 3.69 for Caleres Inc., compared to 11.12 for Rocky Brands Inc., and 19.40 for Skechers U.S.A. Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 1.30%. Meanwhile, the Dow Jones Industrial Improved by 1.00%.

Data on historical trading for Caleres Inc. (NYSE:CAL) indicates that the trading volumes over the past 10 days have averaged 0.57 million and over the past 3 months, they’ve averaged 556.92K. According to company’s latest data on outstanding shares, there are 36.30 million shares outstanding.

Nearly 2.70% of Caleres Inc.’s shares belong to company insiders and institutional investors own 93.10% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.31 million shares as on May 14, 2023, resulting in a short ratio of 5.5. According to the data, the short interest in Caleres Inc. (CAL) stood at 6.37% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 2.1 million. The stock has fallen by -17.86% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CAL stock heading into the next quarter.

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