Unveiling Caleres Inc. (CAL) Q3 Outlook: Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Caleres Inc. (CAL) will announce quarterly earnings of $1.28 per share in its forthcoming report, representing an increase of 11.3% year over year. Revenues are projected to reach $774.34 million, declining 3% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 3.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Caleres Inc. metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net Sales- Famous Footwear' of $453.88 million. The estimate indicates a year-over-year change of -5.8%.
It is projected by analysts that the 'Net Sales- Brand Portfolio' will reach $334.54 million. The estimate indicates a change of +3.5% from the prior-year quarter.
The average prediction of analysts places 'Gross profit / (loss)- Brand Portfolio' at $137.57 million. Compared to the current estimate, the company reported $122.36 million in the same quarter of the previous year.
The consensus among analysts is that 'Gross profit / (loss)- Famous Footwear' will reach $196.77 million. Compared to the present estimate, the company reported $215.60 million in the same quarter last year.
View all Key Company Metrics for Caleres Inc. here>>>
Over the past month, shares of Caleres Inc. have returned -3.3% versus the Zacks S&P 500 composite's +4.2% change. Currently, CAL carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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