Shoe Carnival, Inc. (NASDAQ:SCVL) Receives Average Recommendation of “Hold” from Brokerages

Shoe Carnival, Inc. (NASDAQ:SCVL) has earned a consensus recommendation of “Hold” from the three analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating.

Several equities analysts have recently commented on SCVL shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shoe Carnival in a research report on Monday, December 29th. Wall Street Zen raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th.

Insider Buying and Selling

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,477 shares of Shoe Carnival stock in a transaction on Wednesday, October 15th. The stock was 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 $492,981. The trade was a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 35.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SCVL. Huntington National Bank grew its stake in Shoe Carnival by 164.8% during the third quarter. Huntington National Bank now owns 1,491 shares of the company’s stock worth $31,000 after buying an additional 928 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Shoe Carnival by 33.8% in the second quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock valued at $36,000 after acquiring an additional 486 shares during the last quarter. Hantz Financial Services Inc. raised its position in Shoe Carnival by 305.0% during the third quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock valued at $42,000 after purchasing an additional 1,528 shares in the last quarter. CWM LLC lifted its stake in Shoe Carnival by 44.5% during the second quarter. CWM LLC now owns 5,610 shares of the company’s stock worth $105,000 after purchasing an additional 1,727 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Shoe Carnival by 162.5% during the second quarter. GAMMA Investing LLC now owns 6,590 shares of the company’s stock worth $123,000 after purchasing an additional 4,080 shares during the last quarter. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Stock Performance

Shoe Carnival stock opened at $19.13 on Friday. The stock has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $19.86. The stock has a market capitalization of $523.78 million, a P/E ratio of 9.11 and a beta of 1.31. Shoe Carnival has a 52 week low of $15.21 and a 52 week high of $31.36.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, November 20th. The company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. Shoe Carnival had a return on equity of 8.75% and a net margin of 5.06%.The business had revenue of $297.16 million for the quarter, compared to analyst estimates of $295.25 million. During the same period in the previous year, the firm earned $0.71 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Research analysts forecast that Shoe Carnival will post 2.6 earnings per share for the current year.

Shoe Carnival announced that its Board of Directors has initiated a share buyback program on Friday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Monday, January 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, January 12th. Shoe Carnival’s payout ratio is 28.57%.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.