ValuEngine downgraded shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a buy rating to a hold rating in a report published on Friday, June 2nd.
Several other analysts have also weighed in on the company. B. Riley reissued a neutral rating and set a $21.00 price objective on shares of Shoe Carnival in a report on Saturday, May 27th. TheStreet lowered Shoe Carnival from a b- rating to a c+ rating in a report on Tuesday, May 23rd. Jefferies Group LLC reissued a hold rating and set a $21.00 price objective (down previously from $26.00) on shares of Shoe Carnival in a report on Thursday, May 25th. Zacks Investment Research lowered Shoe Carnival from a hold rating to a sell rating in a report on Tuesday, March 28th. Finally, Susquehanna Bancshares Inc reissued a neutral rating and set a $24.00 price objective on shares of Shoe Carnival in a report on Monday, March 27th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Shoe Carnival has a consensus rating of Hold and an average target price of $24.00.
Shoe Carnival (NASDAQ:SCVL) opened at 18.53 on Friday. The company has a market capitalization of $319.77 million, a PE ratio of 15.76 and a beta of 0.97. The stock has a 50 day moving average price of $20.96 and a 200-day moving average price of $24.67. Shoe Carnival has a 52 week low of $17.56 and a 52 week high of $31.79.
Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The firm had revenue of $253.40 million for the quarter, compared to analyst estimates of $251.74 million. Shoe Carnival had a return on equity of 7.27% and a net margin of 2.12%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. On average, equities analysts predict that Shoe Carnival will post $1.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, June 29th. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.07. Shoe Carnival’s dividend payout ratio (DPR) is 23.53%.
Several institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Shoe Carnival by 6.6% in the fourth quarter. State Street Corp now owns 396,715 shares of the company’s stock valued at $10,699,000 after buying an additional 24,412 shares during the period. Russell Investments Group Ltd. bought a new position in Shoe Carnival during the fourth quarter valued at approximately $1,430,000. State of Tennessee Treasury Department bought a new position in Shoe Carnival during the third quarter valued at approximately $307,000. BlackRock Fund Advisors increased its position in Shoe Carnival by 181.4% in the third quarter. BlackRock Fund Advisors now owns 1,040,575 shares of the company’s stock valued at $27,742,000 after buying an additional 670,802 shares during the period. Finally, Alambic Investment Management L.P. increased its position in Shoe Carnival by 7.5% in the first quarter. Alambic Investment Management L.P. now owns 57,281 shares of the company’s stock valued at $1,407,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 65.05% of the company’s stock.
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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