Shoe Carnival Inc. (NASDAQ:SCVL) – Northcoast Research cut their Q3 2017 earnings per share (EPS) estimates for shares of Shoe Carnival in a report issued on Thursday. Northcoast Research analyst J. Stein now forecasts that the brokerage will post earnings of $0.51 per share for the quarter, down from their prior estimate of $0.54. Northcoast Research also issued estimates for Shoe Carnival’s FY2017 earnings at $1.55 EPS, Q3 2018 earnings at $0.56 EPS and FY2018 earnings at $1.75 EPS.
SCVL has been the topic of a number of other reports. Zacks Investment Research raised shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, September 22nd. Jefferies Group upped their price target on shares of Shoe Carnival from $24.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, September 1st. Finally, Susquehanna assumed coverage on shares of Shoe Carnival in a research note on Thursday, September 15th. They set a “neutral” rating and a $27.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.00.
Shares of 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 stock has a market capitalization of $503.86 million, a P/E ratio of 18.24 and a beta of 0.97. The stock has a 50 day moving average of $27.43 and a 200-day moving average of $25.96.
Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Wednesday, August 31st. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.05. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. The firm had revenue of $231.90 million for the quarter, compared to analysts’ expectations of $237.22 million. During the same period last year, the firm earned $0.24 earnings per share. Shoe Carnival’s revenue for the quarter was up 1.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be paid a $0.07 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.28 dividend on an annualized basis and a yield of 1.05%. Shoe Carnival’s payout ratio is 19.18%.
Large investors have recently modified their holdings of the stock. LSV Asset Management boosted its stake 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. Panagora Asset Management Inc. boosted its stake 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. Emerald Acquisition Ltd. acquired a new stake in shares of Shoe Carnival during the second quarter worth approximately $978,000. Bridgeway Capital Management Inc. boosted its stake in shares of Shoe Carnival by 37.6% in the second quarter. Bridgeway Capital Management Inc. now owns 121,100 shares of the company’s stock worth $3,035,000 after buying an additional 33,100 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Shoe Carnival by 5.1% in the second quarter. Victory Capital Management Inc. now owns 647,978 shares of the company’s stock worth $16,239,000 after buying an additional 31,348 shares during the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.
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. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children.
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