Shoe Carnival (NASDAQ:SCVL) Issues FY 2025 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.900-1.900 for the period, compared to the consensus earnings per share estimate of 1.950. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Williams Trading set a $22.00 price objective on Shoe Carnival in a research note on Thursday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Shoe Carnival Stock Down 0.8%

NASDAQ:SCVL traded down $0.17 during mid-day trading on Friday, hitting $20.51. 45,428 shares of the stock traded hands, compared to its average volume of 396,758. The firm’s 50 day moving average is $19.19 and its two-hundred day moving average is $19.62. Shoe Carnival has a 52 week low of $15.21 and a 52 week high of $26.57. The stock has a market capitalization of $561.46 million, a price-to-earnings ratio of 9.77 and a beta of 1.36.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Stockholders of record on Monday, January 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.9%. Shoe Carnival’s payout ratio is currently 28.57%.

Shoe Carnival announced that its Board of Directors has authorized a share repurchase plan on Friday, December 12th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Shoe Carnival

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Shoe Carnival by 13.0% in the first quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock valued at $1,779,000 after buying an additional 9,298 shares in the last quarter. AQR Capital Management LLC lifted its stake in Shoe Carnival by 367.2% during the first quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock valued at $1,150,000 after buying an additional 41,108 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Shoe Carnival by 215.9% in the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after buying an additional 219,918 shares during the period. Empowered Funds LLC raised its holdings in shares of Shoe Carnival by 3.0% during the first quarter. Empowered Funds LLC now owns 140,151 shares of the company’s stock valued at $3,082,000 after acquiring an additional 4,108 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Shoe Carnival by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 46,758 shares of the company’s stock valued at $875,000 after acquiring an additional 1,998 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

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.