Shoe Carnival Inc. (SCVL) Releases Earnings Results, Misses Expectations By $0.02 EPS
Shoe Carnival Inc. (NASDAQ:SCVL) released its earnings results on Monday. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.02. The company earned $274.50 million during the quarter, compared to analyst estimates of $278.33 million. Shoe Carnival had a net margin of 2.84% and a return on equity of 8.33%. Shoe Carnival’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. Shoe Carnival updated its FY17 guidance to $1.45-1.51 EPS.
Shares of Shoe Carnival (NASDAQ:SCVL) traded down 3.75% during trading on Monday, reaching $30.27. The company’s stock had a trading volume of 278,894 shares. The firm has a market cap of $569.74 million, a PE ratio of 20.62 and a beta of 0.90. The stock’s 50 day moving average price is $26.93 and its 200-day moving average price is $26.17. Shoe Carnival has a 12 month low of $19.09 and a 12 month high of $31.79.
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Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Shoe Carnival by 17.0% in the third quarter. Rhumbline Advisers now owns 22,554 shares of the company’s stock worth $601,000 after buying an additional 3,280 shares during the period. TIAA CREF Investment Management LLC boosted its position in Shoe Carnival by 6.8% in the third quarter. TIAA CREF Investment Management LLC now owns 60,112 shares of the company’s stock worth $1,603,000 after buying an additional 3,809 shares during the period. Teachers Advisors LLC boosted its position in Shoe Carnival by 1.5% in the third quarter. Teachers Advisors LLC now owns 37,738 shares of the company’s stock worth $1,006,000 after buying an additional 560 shares during the period. BlackRock Investment Management LLC boosted its position in Shoe Carnival by 3.4% in the third quarter. BlackRock Investment Management LLC now owns 66,136 shares of the company’s stock worth $1,763,000 after buying an additional 2,172 shares during the period. Finally, BlackRock Advisors LLC boosted its position in Shoe Carnival by 12.4% in the third quarter. BlackRock Advisors LLC now owns 7,887 shares of the company’s stock worth $210,000 after buying an additional 870 shares during the period. 66.55% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on SCVL. Jefferies Group lifted their target price on Shoe Carnival from $24.00 to $29.00 and gave the company a “hold” rating in a research report on Thursday, September 1st. Zacks Investment Research raised Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Susquehanna began coverage on Shoe Carnival in a research report on Thursday, September 15th. They issued a “neutral” rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.00.
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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