Todays Report: Today, Shoe Carnival Inc. (SCVL) Announces Quarterly Earnings Results

Today, Shoe Carnival Inc. (SCVL) Announces Quarterly  Earnings Results

Shoe Carnival Inc. (NASDAQ:SCVL) announced its earnings results on Monday. The company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.02. The company earned $274.50 million during the quarter, compared to analysts’ expectations of $278.33 million. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. Shoe Carnival’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. Shoe Carnival updated its FY17 guidance to $1.45-1.51 EPS.

Shoe Carnival (NASDAQ:SCVL) opened at 30.27 on Tuesday. Shoe Carnival has a 12-month low of $19.60 and a 12-month high of $31.79. The company’s 50-day moving average price is $27.03 and its 200-day moving average price is $26.23. The stock has a market cap of $569.74 million, a PE ratio of 20.62 and a beta of 0.90.

A number of brokerages have recently commented on SCVL. Jefferies Group lifted their target price on Shoe Carnival from $24.00 to $29.00 and gave the stock a “hold” rating in a report on Thursday, September 1st. Zacks Investment Research cut Shoe Carnival from a “hold” rating to a “sell” rating in a report on Wednesday, November 2nd. Finally, Susquehanna began coverage on Shoe Carnival in a report on Thursday, September 15th. They issued a “neutral” rating and a $27.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Shoe Carnival currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. boosted its position in shares of Shoe Carnival by 55.8% in the first quarter. Panagora Asset Management Inc. now owns 182,583 shares of the company’s stock worth $4,922,000 after buying an additional 65,372 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Shoe Carnival during the second quarter worth approximately $978,000. California Public Employees Retirement System boosted its position in shares of 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 last quarter. Finally, LSV Asset Management boosted its position in shares of Shoe Carnival by 62.8% in the second quarter. LSV Asset Management now owns 229,298 shares of the company’s stock worth $5,746,000 after buying an additional 88,486 shares during the last quarter. 66.55% of the stock is owned by institutional investors and hedge funds.

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