Zacks: Brokerages Expect Shoe Carnival, Inc. (SCVL) to Announce $0.64 EPS
Brokerages expect Shoe Carnival, Inc. (NASDAQ:SCVL) to post earnings per share of $0.64 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Shoe Carnival’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.63. Shoe Carnival posted earnings per share of $0.54 during the same quarter last year, which indicates a positive year-over-year growth rate of 18.5%. The company is scheduled to report its next earnings report on Monday, November 27th.
On average, analysts expect that Shoe Carnival will report full-year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.44 to $1.45. For the next fiscal year, analysts anticipate that the business will report earnings of $1.63 per share, with EPS estimates ranging from $1.60 to $1.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Shoe Carnival.
Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. Shoe Carnival had a return on equity of 7.37% and a net margin of 2.09%. The business had revenue of $235.10 million during the quarter, compared to analysts’ expectations of $232.26 million. During the same quarter in the previous year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price target (down from $21.00) on shares of Shoe Carnival in a research note on Thursday, August 31st. BidaskClub downgraded Shoe Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Sidoti raised Shoe Carnival from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday, June 28th. Zacks Investment Research downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Susquehanna Bancshares Inc raised their price target on Shoe Carnival from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Shoe Carnival currently has a consensus rating of “Hold” and a consensus target price of $22.57.
In related news, Director Charles B. Tomm acquired 11,190 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were acquired at an average cost of $22.69 per share, with a total value of $253,901.10. Following the purchase, the director now owns 16,948 shares of the company’s stock, valued at $384,550.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.50% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new position in shares of Shoe Carnival in the 2nd quarter valued at approximately $2,052,000. Russell Investments Group Ltd. raised its stake in shares of Shoe Carnival by 67.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 89,641 shares of the company’s stock valued at $1,872,000 after acquiring an additional 36,100 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Shoe Carnival by 5.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 65,717 shares of the company’s stock valued at $1,615,000 after acquiring an additional 3,463 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Shoe Carnival by 17.8% in the 1st quarter. State of Tennessee Treasury Department now owns 13,544 shares of the company’s stock valued at $333,000 after acquiring an additional 2,044 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Shoe Carnival by 9.5% in the 1st quarter. Swiss National Bank now owns 24,300 shares of the company’s stock valued at $597,000 after acquiring an additional 2,100 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Shoe Carnival (SCVL) traded down 0.50% during mid-day trading on Friday, hitting $22.07. The stock had a trading volume of 35,413 shares. Shoe Carnival has a one year low of $15.08 and a one year high of $31.79. The firm has a market cap of $375.61 million, a price-to-earnings ratio of 18.25 and a beta of 0.94. The company has a 50-day moving average of $19.16 and a 200 day moving average of $20.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, September 29th. Shoe Carnival’s payout ratio is 24.79%.
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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.
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