Brokerages Set Shoe Carnival, Inc. (SCVL) Target Price at $35.75

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL) have earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.75.

SCVL has been the topic of a number of research reports. Citigroup lowered Shoe Carnival from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research report on Thursday, July 19th. They noted that the move was a valuation call. Pivotal Research downgraded Shoe Carnival from a “buy” rating to a “hold” rating and upped their price target for the stock from $43.00 to $45.00 in a report on Tuesday, September 4th. Wedbush upped their price target on Shoe Carnival from $38.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Saturday, August 25th. Finally, BidaskClub upgraded Shoe Carnival from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th.

Shares of NASDAQ:SCVL traded down $0.97 during trading on Monday, reaching $39.77. 212,558 shares of the stock were exchanged, compared to its average volume of 300,983. Shoe Carnival has a 1-year low of $18.85 and a 1-year high of $45.00. The firm has a market capitalization of $650.80 million, a price-to-earnings ratio of 26.69 and a beta of 0.79.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Tuesday, August 28th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.20. Shoe Carnival had a return on equity of 12.06% and a net margin of 2.98%. The company had revenue of $268.37 million for the quarter, compared to analyst estimates of $265.16 million. During the same period in the prior year, the firm earned $0.24 earnings per share. Shoe Carnival’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts anticipate that Shoe Carnival will post 2.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 22nd. Investors of record on Monday, October 8th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $0.32 annualized dividend and a yield of 0.80%. Shoe Carnival’s dividend payout ratio (DPR) is currently 21.48%.

In related news, Director Kent A. Kleeberger sold 2,172 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $44.11, for a total transaction of $95,806.92. Following the completion of the sale, the director now owns 16,460 shares in the company, valued at $726,050.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Shoe Carnival by 7.3% during the second quarter. BlackRock Inc. now owns 1,648,258 shares of the company’s stock worth $53,485,000 after buying an additional 112,623 shares in the last quarter. LSV Asset Management grew its holdings in Shoe Carnival by 4.5% during the second quarter. LSV Asset Management now owns 891,979 shares of the company’s stock worth $28,944,000 after buying an additional 38,784 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Shoe Carnival by 125.7% during the third quarter. Acadian Asset Management LLC now owns 409,843 shares of the company’s stock worth $15,779,000 after buying an additional 228,244 shares in the last quarter. WINTON GROUP Ltd grew its holdings in Shoe Carnival by 44.8% during the second quarter. WINTON GROUP Ltd now owns 264,733 shares of the company’s stock worth $8,591,000 after buying an additional 81,915 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in Shoe Carnival by 110.9% during the second quarter. Citadel Advisors LLC now owns 256,079 shares of the company’s stock worth $8,310,000 after buying an additional 134,651 shares in the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.

About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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