Shoe Carnival’s “Buy” Rating Reaffirmed at Sterne Agee (SCVL)
Shoe Carnival (NASDAQ:SCVL)‘s stock had its “buy” rating reiterated by equities researchers at Sterne Agee in a research report issued on Friday, American Banking and Market News reports.
The analysts wrote, “Reiterate Buy rating. While we were disappointed with top-line results, margins and expenses were managed well. QTD SSS sales are running up 1%, but are accelerating. August comparisons are the most difficult. If the late 3Q and 4Q weather is not as warm as in the past 2 years, and a 75 store test of better women’s product is successful, we would expect both our estimates and guidance to prove conservative. Lowering FY13 & FY14 EPS estimates from $1.57 & $1.93 to $1.52 & $1.89.”
Shares of Shoe Carnival (NASDAQ:SCVL) opened at 25.39 on Friday. Shoe Carnival has a one year low of $18.80 and a one year high of $27.22. The stock’s 50-day moving average is $26.48 and its 200-day moving average is $22.94. The company has a market cap of $506.2 million and a price-to-earnings ratio of 16.81.
Shoe Carnival (NASDAQ:SCVL) last released its earnings data on Thursday, August 29th. The company reported $0.29 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.29. The company had revenue of $216.40 million for the quarter, compared to the consensus estimate of $219.16 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts predict that Shoe Carnival will post $1.54 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Shoe Carnival (NASDAQ:SCVL) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 20th. They now have a $29.90 price target on the stock. Finally, analysts at Standpoint Research downgraded shares of Shoe Carnival (NASDAQ:SCVL) from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 22nd.
Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Shoe Carnival presently has an average rating of “Buy” and a consensus price target of $28.30.
Shoe Carnival, Inc is a family footwear retailer. The Company offers customers an assortment of dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands.
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