Shoe Carnival, Inc. (NASDAQ:SCVL) was downgraded by stock analysts at Johnson Rice from a “buy” rating to an “accumulate” rating in a research report issued to clients and investors on Friday.
Several other research firms have also weighed in on SCVL. Mizuho initiated coverage on Shoe Carnival in a report on Thursday, December 15th. They issued a “neutral” rating and a $28.00 target price for the company. Zacks Investment Research upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th. Susquehanna Bancshares Inc restated a “hold” rating and issued a $24.00 target price on shares of Shoe Carnival in a report on Tuesday, January 10th. B. Riley restated a “neutral” rating and issued a $26.00 target price on shares of Shoe Carnival in a report on Wednesday, March 22nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $26.00 target price (down from $28.00) on shares of Shoe Carnival in a report on Wednesday, January 11th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.29.
Shoe Carnival (NASDAQ:SCVL) opened at 24.28 on Friday. The firm has a 50-day moving average of $25.70 and a 200-day moving average of $26.59. Shoe Carnival has a 12-month low of $21.16 and a 12-month high of $31.79. The firm has a market cap of $422.67 million, a P/E ratio of 18.97 and a beta of 0.90.
Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, March 23rd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. Shoe Carnival had a return on equity of 8.51% and a net margin of 2.86%. The firm earned $234.20 million during the quarter, compared to analyst estimates of $234.89 million. During the same period in the previous year, the company earned $0.21 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts expect that Shoe Carnival will post $1.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Monday, April 10th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.15%. Shoe Carnival’s dividend payout ratio (DPR) is presently 18.30%.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its position in shares of Shoe Carnival by 181.4% in the third quarter. BlackRock Fund Advisors now owns 1,040,575 shares of the company’s stock worth $27,742,000 after buying an additional 670,802 shares during the period. Bank of New York Mellon Corp raised its position in shares of Shoe Carnival by 113.2% in the third quarter. Bank of New York Mellon Corp now owns 211,104 shares of the company’s stock worth $5,628,000 after buying an additional 112,088 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Shoe Carnival during the fourth quarter worth approximately $1,430,000. Spark Investment Management LLC acquired a new position in shares of Shoe Carnival during the third quarter worth approximately $1,127,000. Finally, State Street Corp raised its position in shares of Shoe Carnival by 6.6% in the fourth quarter. State Street Corp now owns 396,715 shares of the company’s stock worth $10,699,000 after buying an additional 24,412 shares during the period. Institutional investors own 68.46% of the company’s stock.
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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