Brokerages Set Shoe Carnival, Inc. (SCVL) Target Price at $25.86
Shoe Carnival, Inc. (NASDAQ:SCVL) has received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $25.86.
SCVL has been the topic of several research reports. Susquehanna Bancshares reiterated a “buy” rating and issued a $28.00 price objective on shares of Shoe Carnival in a report on Friday, November 17th. Jefferies Group set a $22.00 price target on shares of Shoe Carnival and gave the company a “hold” rating in a research note on Saturday, November 18th. BidaskClub upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Pivotal Research started coverage on shares of Shoe Carnival in a research note on Tuesday, November 21st. They issued a “hold” rating and a $28.00 price target on the stock. Finally, Wedbush restated a “buy” rating and issued a $33.00 price target (up from $27.00) on shares of Shoe Carnival in a research note on Tuesday, December 19th.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in Shoe Carnival during the second quarter worth about $175,000. Texas Permanent School Fund bought a new stake in Shoe Carnival during the fourth quarter worth about $206,000. Crossmark Global Holdings Inc. bought a new stake in Shoe Carnival during the third quarter worth about $222,000. Cubist Systematic Strategies LLC bought a new stake in Shoe Carnival during the third quarter worth about $224,000. Finally, Alliancebernstein L.P. lifted its position in Shoe Carnival by 13.6% during the second quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock worth $227,000 after purchasing an additional 1,300 shares during the period. 67.39% of the stock is owned by institutional investors and hedge funds.
Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. The firm had revenue of $287.47 million for the quarter, compared to the consensus estimate of $286.90 million. analysts anticipate that Shoe Carnival will post 1.48 earnings per share for the current year.
Shoe Carnival announced that its board has authorized a stock buyback program on Tuesday, December 19th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Monday, January 8th were given a dividend of $0.075 per share. The ex-dividend date was Friday, January 5th. This represents a $0.30 annualized dividend and a yield of 1.34%. Shoe Carnival’s dividend payout ratio is 22.56%.
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. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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