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Caleres Inc. (CAL) Stock Moves -1.62%: What You Should Know

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In the latest trading session, Caleres Inc. (CAL) closed at $23.12, marking a -1.62% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.81%. At the same time, the Dow lost 1.47%, and the tech-heavy Nasdaq lost 0.51%.

Coming into today, shares of the footwear wholesaler and retailer had gained 2.22% in the past month. In that same time, the Consumer Discretionary sector lost 2.97%, while the S&P 500 lost 1.84%.

Wall Street will be looking for positivity from Caleres Inc. as it approaches its next earnings report date. On that day, Caleres Inc. is projected to report earnings of $0.67 per share, which would represent 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.

It is also important to note the recent changes to analyst estimates for Caleres Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 3.48% higher. Caleres Inc. currently has a Zacks Rank of #2 (Buy).

Digging into valuation, Caleres Inc. currently has a Forward P/E ratio of 5.86. For comparison, its industry has an average Forward P/E of 15.73, 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 72, which puts it in the top 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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