Shoe Carnival Inc. (SCVL) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “
Several other equities analysts have also issued reports on the company. Jefferies Group raised their price objective on Shoe Carnival from $24.00 to $29.00 and gave the stock a hold rating in a report on Thursday, September 1st. Susquehanna started coverage on Shoe Carnival in a report on Thursday, September 15th. They set a neutral rating and a $27.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $28.00.
Shoe Carnival (NASDAQ:SCVL) opened at 26.77 on Friday. The company has a 50-day moving average price of $27.43 and a 200-day moving average price of $25.96. Shoe Carnival has a 12-month low of $17.36 and a 12-month high of $30.13. The firm has a market cap of $503.86 million, a PE ratio of 18.24 and a beta of 0.97.
Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Wednesday, August 31st. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.05. Shoe Carnival had a net margin of 2.84% and a return on equity of 8.33%. The business earned $231.90 million during the quarter, compared to analyst estimates of $237.22 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Shoe Carnival will post $1.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, September 29th. Shoe Carnival’s dividend payout ratio is currently 19.18%.
Several institutional investors have recently added to or reduced their stakes in SCVL. Alliancebernstein L.P. increased its stake in shares of Shoe Carnival by 21.6% in the second quarter. Alliancebernstein L.P. now owns 11,250 shares of the company’s stock worth $282,000 after buying an additional 2,000 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Shoe Carnival by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 11,847 shares of the company’s stock worth $319,000 after buying an additional 530 shares during the last quarter. Strs Ohio increased its stake in shares of Shoe Carnival by 8.4% in the second quarter. Strs Ohio now owns 25,900 shares of the company’s stock worth $649,000 after buying an additional 2,000 shares during the last quarter. WBI Investments Inc. purchased a new stake in shares of Shoe Carnival during the second quarter worth approximately $663,000. Finally, Teachers Advisors Inc. increased its stake in shares of Shoe Carnival by 8.0% in the second quarter. Teachers Advisors Inc. now owns 37,178 shares of the company’s stock worth $932,000 after buying an additional 2,759 shares during the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.
Shoe Carnival Company Profile
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children.
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