Trading Report: Today: Shoe Carnival Inc. (SCVL) Updates FY17 Earnings Guidance

Today: Shoe Carnival Inc. (SCVL) Updates FY17 Earnings Guidance

Shoe Carnival Inc. (NASDAQ:SCVL) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $1.45-1.51 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.60. The company issued revenue guidance of $1.002-1.006 billion, compared to the consensus revenue estimate of $1.01 billion.

A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Shoe Carnival from a hold rating to a sell rating in a research report on Wednesday, November 2nd. Susquehanna assumed coverage on shares of Shoe Carnival in a research report on Thursday, September 15th. They set a neutral rating and a $27.00 price objective on the stock. Finally, Jefferies Group increased their price objective on shares of Shoe Carnival from $24.00 to $29.00 and gave the company a hold rating in a research report on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $28.00.

Shares of Shoe Carnival Inc. (NASDAQ:SCVL) traded down 3.75% during mid-day trading on Monday, reaching $30.27. 278,894 shares of the company’s stock were exchanged. The company has a market capitalization of $569.74 million, a PE ratio of 20.62 and a beta of 0.90. The company’s 50-day moving average price is $26.93 and its 200-day moving average price is $26.17. Shoe Carnival Inc. has a one year low of $19.09 and a one year high of $31.79.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Monday, November 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.02. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. The firm earned $274.50 million during the quarter, compared to analysts’ expectations of $278.33 million. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that Shoe Carnival Inc. will post $1.61 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Shoe Carnival by 0.7% in the third quarter. California State Teachers Retirement System now owns 30,199 shares of the company’s stock worth $805,000 after buying an additional 200 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Shoe Carnival by 1.5% in the third quarter. Teachers Advisors LLC now owns 37,738 shares of the company’s stock worth $1,006,000 after buying an additional 560 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Shoe Carnival by 12.4% in the third quarter. BlackRock Advisors LLC now owns 7,887 shares of the company’s stock worth $210,000 after buying an additional 870 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Shoe Carnival by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 372,567 shares of the company’s stock worth $9,933,000 after buying an additional 1,074 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of 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 last quarter. 66.55% of the stock is currently owned by hedge funds and other institutional investors.

Shoe Carnival Company Profile

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