BidaskClub lowered shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.

A number of other research firms have also recently commented on SCVL. ValuEngine upgraded shares of Shoe Carnival from a hold rating to a buy rating in a report on Wednesday, May 24th. B. Riley restated a neutral rating and issued a $21.00 price target on shares of Shoe Carnival in a report on Monday, May 22nd. Jefferies Group LLC restated a hold rating and issued a $21.00 price target (down from $26.00) on shares of Shoe Carnival in a report on Thursday, May 25th. Zacks Investment Research cut shares of Shoe Carnival from a hold rating to a sell rating in a report on Thursday, July 20th. Finally, TheStreet cut shares of Shoe Carnival from a b- rating to a c+ rating in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $24.00.

Shares of Shoe Carnival (NASDAQ:SCVL) traded down 3.215% during trading on Thursday, reaching $17.789. 60,351 shares of the company were exchanged. The firm has a market cap of $306.98 million, a price-to-earnings ratio of 15.127 and a beta of 0.98. Shoe Carnival has a 52-week low of $17.56 and a 52-week high of $31.79. The stock’s 50-day moving average is $19.39 and its 200-day moving average is $23.04.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Wednesday, May 24th. The company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $251.74 million. Shoe Carnival had a net margin of 2.12% and a return on equity of 7.27%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts predict that Shoe Carnival will post $1.41 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a dividend of $0.075 per share. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, June 29th. Shoe Carnival’s dividend payout ratio (DPR) is currently 25.21%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after buying an additional 6,260 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Shoe Carnival during the first quarter worth about $249,000. Sanders Morris Harris LLC acquired a new position in shares of Shoe Carnival during the second quarter worth about $280,000. Finally, United Capital Financial Advisers LLC acquired a new position in shares of Shoe Carnival during the first quarter worth about $303,000. Hedge funds and other institutional investors own 65.17% 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. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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