Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
In a challenging market environment, shares of Brown Shoe Company, Inc. (CAL) have reached a 52-week low, dipping to $14.96. According to InvestingPro data, the company’s current market capitalization stands at $514 million, with analysts setting price targets between $17 and $24. The footwear retailer, known for its diverse portfolio of brands, has faced significant headwinds over the past year, reflected in a steep 1-year change with a decline of -59.21%. Despite these challenges, the company trades at an attractive P/E ratio of 4.7 and has maintained dividend payments for 55 consecutive years. Investors have shown concern as the company grapples with industry-wide issues, including supply chain disruptions and changing consumer spending habits, which have pressured the stock to its current low point. The market will be watching closely to see if Brown Shoe Company can strategize a turnaround or if it will continue to tread this challenging terrain. InvestingPro analysis suggests the stock may be undervalued at current levels, with 8 additional exclusive insights available to subscribers.
In other recent news, Caleres (NYSE:CAL) Inc. reported its Q4 2024 earnings, revealing an adjusted earnings per share (EPS) of $0.33, which fell short of the forecasted $0.40. The company’s revenue for the quarter was $639.2 million, missing the anticipated $651.24 million. For the full year 2024, Caleres reported sales of $2.72 billion, a decrease of 3.4% from the previous year, with an EPS of $3.30. Despite these financial setbacks, Caleres announced a definitive agreement to acquire Stuart Weitzman from Tapestry (NYSE:TPR), aiming to expand its presence in the contemporary segment and premium price points. Analyst firms like KeyBanc Capital Markets and Loop Capital Markets have been actively engaging with Caleres’ leadership to understand the company’s strategic initiatives and future expectations. In terms of guidance, Caleres projects 2025 consolidated sales to range between a 1% decrease and a 1% increase, with EPS expected between $2.80 and $3.20. The company is focusing on international expansion and product innovation to counteract current market challenges. Additionally, Caleres is working on reducing its reliance on China for product sourcing to mitigate the impact of tariffs.
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