Shoe Carnival Inc. (NASDAQ:SCVL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $30.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.21% from the company’s current price.
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. “
SCVL has been the topic of several other reports. Jefferies Group lifted their price target on Shoe Carnival from $24.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, September 1st. Sterne Agee CRT reaffirmed a “buy” rating on shares of Shoe Carnival in a research report on Thursday, May 26th. Susquehanna assumed coverage on Shoe Carnival in a research report on Thursday, September 15th. They issued a “neutral” rating and a $27.00 price target on the stock. Finally, Sidoti assumed coverage on Shoe Carnival in a report on Tuesday, June 7th. They set a “neutral” rating and a $27.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.00.
Shoe Carnival (NASDAQ:SCVL) opened at 27.22 on Thursday. The stock’s 50 day moving average price is $27.39 and its 200-day moving average price is $25.85. The firm has a market capitalization of $512.33 million, a price-to-earnings ratio of 18.54 and a beta of 0.96. Shoe Carnival has a one year low of $17.36 and a one year high of $30.13.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Wednesday, August 31st. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.05. The business earned $231.90 million during the quarter, compared to the consensus estimate of $237.22 million. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities research analysts anticipate that Shoe Carnival will post $1.61 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $0.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 29th. Shoe Carnival’s dividend payout ratio is 19.18%.
A number of hedge funds have recently made changes to their positions in SCVL. Metropolitan Life Insurance Co. NY raised its stake in shares of Shoe Carnival by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 11,847 shares of the company’s stock valued at $319,000 after buying an additional 530 shares in the last quarter. Strs Ohio raised its stake in shares of Shoe Carnival by 8.4% in the second quarter. Strs Ohio now owns 25,900 shares of the company’s stock valued at $649,000 after buying an additional 2,000 shares in the last quarter. Alliancebernstein L.P. raised its stake 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 valued at $282,000 after buying an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 valued at $2,482,000 after buying an additional 2,397 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake 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 valued at $1,551,000 after buying an additional 2,600 shares in the last quarter. 62.24% of the stock is currently owned by institutional investors and hedge funds.
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.
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