Q3 2017 EPS Estimates for Shoe Carnival Inc. (SCVL) Cut by Northcoast Research
Shoe Carnival Inc. (NASDAQ:SCVL) – Northcoast Research dropped their Q3 2017 earnings per share estimates for shares of Shoe Carnival in a note issued to investors on Thursday. Northcoast Research analyst J. Stein now anticipates 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.
A number of other brokerages have also weighed in on SCVL. Zacks Investment Research raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Susquehanna started coverage on Shoe Carnival in a report on Thursday, September 15th. They issued a “neutral” rating and a $27.00 price objective on the stock. Finally, Jefferies Group lifted their price objective on Shoe Carnival from $24.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, September 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Shoe Carnival currently has an average rating of “Hold” and an average target price of $28.00.
Shoe Carnival (NASDAQ:SCVL) traded down 0.49% during midday trading on Friday, reaching $26.56. The company’s stock had a trading volume of 56,692 shares. The stock has a market capitalization of $499.91 million, a PE ratio of 18.09 and a beta of 0.97. Shoe Carnival has a 52 week low of $17.36 and a 52 week high of $30.13. The firm’s 50-day moving average price is $27.45 and its 200-day moving average price is $25.96.
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Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Wednesday, August 31st. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.05. The business had revenue of $231.90 million for the quarter, compared to analyst estimates of $237.22 million. Shoe Carnival had a return on equity of 8.33% and a net margin of 2.84%. Shoe Carnival’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS.
Large investors have recently made changes to their positions in the company. 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 during the period. 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 during the period. Alliancebernstein L.P. raised its stake in 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. Bank of New York Mellon Corp raised its stake in 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 worth $2,482,000 after buying an additional 2,397 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Shoe Carnival by 4.4% in the second quarter. California Public Employees Retirement System now owns 61,900 shares of the company’s stock worth $1,551,000 after buying an additional 2,600 shares during the last quarter. 64.95% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, September 29th. Shoe Carnival’s dividend payout ratio (DPR) is 19.18%.
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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