Shoe Carnival (NASDAQ:SCVL) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Several other analysts have also recently issued reports on SCVL. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Friday, March 27th. Williams Trading set a $22.00 price target on Shoe Carnival in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Shoe Carnival has a consensus rating of “Buy” and a consensus price target of $22.00.

Shoe Carnival Trading Down 3.5%

Shoe Carnival stock opened at $16.66 on Thursday. Shoe Carnival has a 52 week low of $14.91 and a 52 week high of $26.57. The stock has a market cap of $457.82 million, a P/E ratio of 12.34 and a beta of 1.44. The stock has a 50 day moving average of $17.30 and a 200-day moving average of $18.12.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $270.73 million during the quarter, compared to analyst estimates of $268.73 million. Shoe Carnival had a net margin of 3.31% and a return on equity of 7.24%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities analysts predict that Shoe Carnival will post 1.5 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 6th were paid a $0.17 dividend. The ex-dividend date was Monday, April 6th. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 4.1%. Shoe Carnival’s payout ratio is presently 35.79%.

Insider Activity at Shoe Carnival

In related news, CFO W Kerry Jackson purchased 31,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were acquired at an average cost of $16.13 per share, for a total transaction of $500,030.00. Following the transaction, the chief financial officer owned 215,529 shares of the company’s stock, valued at $3,476,482.77. This trade represents a 16.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 33.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in Shoe Carnival in the fourth quarter worth $28,000. Huntington National Bank grew its position in shares of 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 acquiring an additional 928 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Shoe Carnival by 305.0% during the third quarter. Hantz Financial Services Inc. now owns 2,029 shares of the company’s stock worth $42,000 after acquiring an additional 1,528 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Shoe Carnival during the fourth quarter worth about $44,000. Finally, Los Angeles Capital Management LLC bought a new stake in Shoe Carnival in the 4th quarter valued at about $86,000. 66.05% of the stock is currently owned by institutional investors.

Key Stories Impacting Shoe Carnival

Here are the key news stories impacting Shoe Carnival this week:

• Positive Sentiment: Shoe Carnival posted first-quarter EPS of $0.23, beating the $0.20 consensus, and revenue of $270.7 million also topped estimates. Conference Call / Earnings Report
• Positive Sentiment: Management highlighted improving sales trends, including a 2.2% decline in Shoe Carnival banner sales, which was better than prior fiscal 2025 trends and suggests some stabilization in the business. Q1 2026 Results
• Positive Sentiment: Several market commentaries pointed to the stock’s attractive valuation, with one noting the shares trade at a single-digit earnings multiple ex-cash, which may appeal to value investors if the turnaround continues. Valuation Commentary
• Neutral Sentiment: Despite the beat, revenue still declined 2.5% year over year and EPS was below last year’s $0.34, underscoring that the recovery is still early.
• Negative Sentiment: Some analysts warned the stock could remain volatile because the business is still working through broader retail headwinds and the shares may be vulnerable if momentum fades.

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.