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Caleres Inc. (CAL) Stock Sinks As Market Gains: What You Should Know

Caleres Inc. (CAL) closed the most recent trading day at $29.69, moving -0.24% from the previous trading session. This change lagged the S&P 500's 1.73% gain on the day. At the same time, the Dow added 1.27%, and the tech-heavy Nasdaq gained 0.28%.

Prior to today's trading, shares of the footwear wholesaler and retailer had gained 13.94% over the past month. This has outpaced the Consumer Discretionary sector's gain of 12.28% and the S&P 500's gain of 9.34% in that time.

Investors will be hoping for strength from Caleres Inc. as it approaches its next earnings release, which is expected to be August 23, 2022. In that report, analysts expect Caleres Inc. to post earnings of $1.32 per share. This would mark year-over-year growth of 10.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $736.05 million, up 8.96% from the year-ago period.

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 +4.79%, respectively.

Investors might also notice 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Caleres Inc. is holding a Forward P/E ratio of 6.88. This valuation marks a discount compared to its industry's average Forward P/E of 13.31.

The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 242, which puts it in the bottom 4% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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