In the latest trading session, Caleres Inc. (CAL) closed at $30.42, marking a +1.91% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq added 0.09%.Prior to today's trading, shares of the footwear wholesaler and retailer had gained 6.53% over the past month. This has lagged the Consumer Discretionary sector's gain of 11.09% and the S&P 500's gain of 10.76% in that time.Wall Street will be looking for positivity from Caleres Inc. as it approaches its next earnings report date. This is expected to be August 23, 2022. On that day, Caleres Inc. is projected to report earnings of $1.32 per share, which would represent year-over-year growth of 10.92%. Meanwhile, our latest consensus estimate is calling for revenue of $736.05 million, up 8.96% from the prior-year quarter.CAL's full-year Zacks Consensus Estimates are calling for earnings of $4.32 per share and revenue of $2.91 billion. These results would represent year-over-year changes of +0.7% and +4.8%, respectively.Investors should also note any recent changes to analyst estimates for Caleres Inc.Recent revisions tend to reflect the latest 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 remained stagnant. Caleres Inc. currently has a Zacks Rank of #3 (Hold).Looking at its valuation, Caleres Inc. is holding a Forward P/E ratio of 6.9. For comparison, its industry has an average Forward P/E of 13.47, which means Caleres Inc. is trading at a discount to the group.The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 3% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Caleres, Inc. (CAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research