BidaskClub upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a sell rating to a hold rating in a report issued on Thursday.

Several other equities analysts also recently weighed in on the company. Wedbush restated a buy rating and issued a $33.00 target price (up previously from $27.00) on shares of Shoe Carnival in a research report on Tuesday, December 19th. Zacks Investment Research downgraded Shoe Carnival from a buy rating to a hold rating in a research report on Saturday, September 30th. Susquehanna Bancshares upgraded Shoe Carnival from a neutral rating to a positive rating and raised their target price for the company from $19.00 to $23.00 in a research report on Wednesday, September 20th. UBS Group upgraded Shoe Carnival from a neutral rating to a positive rating in a research report on Wednesday, September 20th. Finally, Pivotal Research assumed coverage on Shoe Carnival in a research report on Tuesday, November 21st. They issued a hold rating and a $28.00 target price on the stock. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $25.63.

Shoe Carnival (NASDAQ:SCVL) opened at $26.72 on Thursday. The stock has a market capitalization of $452.95, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. Shoe Carnival has a 1 year low of $15.07 and a 1 year high of $28.86.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. The company had revenue of $287.47 million for the quarter, compared to the consensus estimate of $286.90 million. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. analysts expect that Shoe Carnival will post 1.48 earnings per share for the current fiscal year.

Shoe Carnival declared that its Board of Directors has approved a share buyback program on Tuesday, December 19th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 22nd. Investors of record on Monday, January 8th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, January 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.12%. Shoe Carnival’s payout ratio is 21.90%.

In related news, Director Charles B. Tomm acquired 11,190 shares of Shoe Carnival stock in a transaction that occurred on Friday, September 29th. The shares were purchased at an average price of $22.69 per share, for a total transaction of $253,901.10. Following the completion of the transaction, the director now owns 16,948 shares in the company, valued at approximately $384,550.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 28.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in Shoe Carnival during the second quarter worth $175,000. Crossmark Global Holdings Inc. acquired a new stake in Shoe Carnival during the third quarter worth $222,000. Cubist Systematic Strategies LLC acquired a new stake in Shoe Carnival during the third quarter worth $224,000. Nine Chapters Capital Management LLC acquired a new stake in Shoe Carnival during the third quarter worth $242,000. Finally, Alliancebernstein L.P. increased its stake in Shoe Carnival by 13.6% during the second quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock worth $227,000 after acquiring an additional 1,300 shares during the last quarter. 66.01% of the stock is owned by institutional investors.

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About Shoe Carnival

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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