Shares of Shoe Carnival Inc. (NASDAQ:SCVL) fell 13.6% on Tuesday following a dissappointing earnings announcement. The company traded as low as $25.88 and last traded at $26.15, with a volume of 1,098,083 shares. The stock had previously closed at $30.27.

The company reported $0.54 earnings per share 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. During the same period in the prior year, the company posted $0.47 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year.

Several brokerages recently weighed in on SCVL. Zacks Investment Research upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Saturday, September 3rd. Jefferies Group increased 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. Finally, Susquehanna started coverage on Shoe Carnival in a research report on Thursday, September 15th. They issued a “neutral” rating and a $27.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.80.

Several large investors have recently modified their holdings of SCVL. Acrospire Investment Management LLC boosted its stake in shares of Shoe Carnival by 859.2% in the third quarter. Acrospire Investment Management LLC now owns 6,350 shares of the company’s stock valued at $169,000 after buying an additional 5,688 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Shoe Carnival during the third quarter valued at $205,000. BlackRock Advisors LLC boosted its stake 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 during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Shoe Carnival during the third quarter valued at $280,000. Finally, American International Group Inc. boosted its stake 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 during the last quarter. 66.55% of the stock is owned by institutional investors.

The firm’s 50 day moving average is $27.03 and its 200 day moving average is $26.23. The company has a market capitalization of $492.20 million, a P/E ratio of 17.81 and a beta of 0.90.

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About Shoe Carnival

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.

5 Day Chart for NASDAQ:SCVL

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