Shoe Carnival Inc. (SCVL) Updates FY17 Earnings Guidance
Shoe Carnival Inc. (NASDAQ:SCVL) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.45-1.51 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.60. The company issued revenue guidance of $1.002-1.006 billion, compared to the consensus revenue estimate of $1.01 billion.
Shares of Shoe Carnival Inc. (NASDAQ:SCVL) traded down 3.75% during midday trading on Monday, hitting $30.27. 278,894 shares of the stock traded hands. The firm has a market capitalization of $569.74 million, a PE ratio of 20.62 and a beta of 0.90. Shoe Carnival Inc. has a 52 week low of $19.09 and a 52 week high of $31.79. The company’s 50-day moving average is $26.93 and its 200 day moving average is $26.17.
Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Monday, November 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by $0.02. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. The business had revenue of $274.50 million for the quarter, compared to the consensus estimate of $278.33 million. During the same period in the previous year, the firm earned $0.47 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Analysts anticipate that Shoe Carnival Inc. will post $1.61 earnings per share for the current year.
Several equities research analysts recently commented on SCVL shares. Zacks Investment Research lowered shares of Shoe Carnival from a buy rating to a hold rating in a research note on Saturday, October 8th. Susquehanna started coverage on shares of Shoe Carnival in a research note on Thursday, September 15th. They set a neutral rating and a $27.00 price objective on the stock. Finally, Jefferies Group boosted their price objective on shares of Shoe Carnival from $24.00 to $29.00 and gave the stock a hold rating in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Shoe Carnival presently has a consensus rating of Hold and a consensus target price of $28.00.
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Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its position in shares of Shoe Carnival by 12.4% in the third quarter. BlackRock Advisors LLC now owns 7,887 shares of the company’s stock valued at $210,000 after buying an additional 870 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Shoe Carnival during the third quarter valued at about $280,000. Alliancebernstein L.P. increased its position 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 valued at $282,000 after buying an additional 2,000 shares in the last quarter. American International Group Inc. increased its position in shares of Shoe Carnival by 28.8% in the third quarter. American International Group Inc. now owns 10,611 shares of the company’s stock valued at $283,000 after buying an additional 2,375 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of Shoe Carnival by 145.9% in the third quarter. BlackRock Group LTD now owns 17,080 shares of the company’s stock valued at $455,000 after buying an additional 10,133 shares in the last quarter. Hedge funds and other institutional investors own 66.55% of the company’s stock.
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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