Shoe Carnival Inc. (NASDAQ:SCVL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “
A number of other research firms have also recently weighed in on SCVL. Jefferies Group upped their target price on shares of Shoe Carnival from $24.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, September 1st. Susquehanna began coverage on shares of Shoe Carnival in a research note on Thursday, September 15th. They issued a “neutral” rating and a $27.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.00.
Shoe Carnival (NASDAQ:SCVL) opened at 26.77 on Friday. Shoe Carnival has a 1-year low of $17.36 and a 1-year high of $30.13. The company’s 50 day moving average is $27.43 and its 200-day moving average is $25.96. The firm has a market cap of $503.86 million, a price-to-earnings ratio of 18.24 and a beta of 0.97.
Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Wednesday, August 31st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.05. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. The company had revenue of $231.90 million for the quarter, compared to the consensus estimate of $237.22 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts predict that Shoe Carnival will post $1.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.28 dividend on an annualized basis and a yield of 1.05%. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.18%.
A number of institutional investors have recently added to or reduced their stakes in SCVL. Metropolitan Life Insurance Co. NY raised its position in Shoe Carnival by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 11,847 shares of the company’s stock worth $319,000 after buying an additional 530 shares during the period. Strs Ohio raised its position in Shoe Carnival by 8.4% in the second quarter. Strs Ohio now owns 25,900 shares of the company’s stock worth $649,000 after buying an additional 2,000 shares during the period. Alliancebernstein L.P. raised its position in Shoe Carnival by 21.6% in the second quarter. Alliancebernstein L.P. now owns 11,250 shares of the company’s stock worth $282,000 after buying an additional 2,000 shares during the period. Bank of New York Mellon Corp raised its position in Shoe Carnival by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 99,016 shares of the company’s stock worth $2,482,000 after buying an additional 2,397 shares during the period. Finally, California Public Employees Retirement System raised its position in Shoe Carnival by 4.4% in the second quarter. California Public Employees Retirement System now owns 61,900 shares of the company’s stock worth $1,551,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 64.95% of the company’s stock.
Shoe Carnival Company Profile
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. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children.