Shoe Carnival, Inc. (NASDAQ:SCVL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) have been given a consensus rating of “Moderate Buy” by the three research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Several research firms have recently weighed in on SCVL. Seaport Res Ptn downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Wednesday. Wall Street Zen raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Zacks Research raised Shoe Carnival from a “strong sell” rating to a “strong-buy” rating in a report on Monday, October 27th.

Insiders Place Their Bets

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,477 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total value of $50,035.40. Following the completion of the transaction, the director directly owned 24,405 shares of the company’s stock, valued at approximately $492,981. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 35.50% of the company’s stock.

Hedge Funds Weigh In On Shoe Carnival

Several hedge funds have recently bought and sold shares of SCVL. Envestnet Asset Management Inc. grew its holdings in Shoe Carnival by 7.1% in the first quarter. Envestnet Asset Management Inc. now owns 209,620 shares of the company’s stock valued at $4,610,000 after purchasing an additional 13,838 shares during the last quarter. CWM LLC increased its holdings in Shoe Carnival by 188.3% during the 1st quarter. CWM LLC now owns 3,883 shares of the company’s stock valued at $85,000 after acquiring an additional 2,536 shares in the last quarter. Victory Capital Management Inc. raised its position in Shoe Carnival by 74.6% during the first quarter. Victory Capital Management Inc. now owns 59,947 shares of the company’s stock worth $1,318,000 after acquiring an additional 25,617 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Shoe Carnival by 68.4% in the first quarter. Pinnacle Associates Ltd. now owns 43,339 shares of the company’s stock valued at $953,000 after purchasing an additional 17,604 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Shoe Carnival during the 1st quarter worth approximately $4,936,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Stock Up 6.0%

SCVL traded up $0.94 on Friday, reaching $16.64. The company’s stock had a trading volume of 580,771 shares, compared to its average volume of 477,637. The company has a market capitalization of $455.49 million, a price-to-earnings ratio of 7.33 and a beta of 1.35. Shoe Carnival has a fifty-two week low of $15.21 and a fifty-two week high of $36.94. The stock has a 50 day moving average of $19.58 and a two-hundred day moving average of $20.21.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, November 20th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The business had revenue of $297.16 million during the quarter, compared to analysts’ expectations of $295.25 million. During the same quarter in the prior year, the business posted $0.71 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. As a group, analysts anticipate that Shoe Carnival will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were paid a $0.15 dividend. The ex-dividend date was Monday, October 6th. This represents a $0.60 annualized dividend and a dividend yield of 3.6%. Shoe Carnival’s dividend payout ratio (DPR) is 26.43%.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.