Susquehanna Begins Coverage on Shoe Carnival Inc. (SCVL)
A number of other analysts have also recently commented on SCVL. Zacks Investment Research cut shares of Shoe Carnival from a buy rating to a hold rating in a research note on Thursday, May 19th. Jefferies Group cut their target price on shares of Shoe Carnival from $25.00 to $24.00 and set a hold rating for the company in a research note on Friday, May 20th. Sterne Agee CRT cut their target price on shares of Shoe Carnival from $30.00 to $27.00 and set a buy rating for the company in a research note on Friday, May 20th. Finally, Sidoti initiated coverage on shares of Shoe Carnival in a research note on Tuesday, June 7th. They set a neutral rating and a $27.00 target price for the company. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Shoe Carnival has an average rating of Hold and an average price target of $27.80.
Shares of Shoe Carnival (NASDAQ:SCVL) opened at 27.22 on Thursday. The stock has a market capitalization of $512.33 million, a price-to-earnings ratio of 18.54 and a beta of 0.96. The company has a 50-day moving average of $27.24 and a 200-day moving average of $25.79. Shoe Carnival has a 52-week low of $17.36 and a 52-week high of $30.13.
Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Wednesday, August 31st. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $231.90 million for the quarter, compared to analysts’ expectations of $237.22 million. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Equities research analysts anticipate that Shoe Carnival will post $1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.28 dividend on an annualized basis and a yield of 1.03%. Shoe Carnival’s payout ratio is presently 19.18%.
Institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD raised its position in Shoe Carnival by 39.0% in the first quarter. BlackRock Group LTD now owns 7,034 shares of the company’s stock valued at $189,000 after buying an additional 1,973 shares during the last quarter. Alliancebernstein L.P. raised its position in 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 during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Shoe Carnival by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 11,847 shares of the company’s stock valued at $319,000 after buying an additional 530 shares during the last quarter. Strs Ohio raised its position in Shoe Carnival by 8.4% in the second quarter. Strs Ohio now owns 25,900 shares of the company’s stock valued at $649,000 after buying an additional 2,000 shares during the last quarter. Finally, WBI Investments Inc. purchased a new position in Shoe Carnival during the second quarter valued at $663,000. Institutional investors own 62.65% 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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