Shoe Carnival Inc. (SCVL) Downgraded to “Hold” at Zacks Investment Research
Shoe Carnival Inc. (NASDAQ:SCVL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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. “
Several other analysts also recently issued reports on SCVL. Jefferies Group lifted their target price on Shoe Carnival from $24.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, September 1st. Susquehanna began coverage on Shoe Carnival in a research note on Thursday, September 15th. They set a “neutral” rating and a $27.00 target price on the stock. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $28.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/shoe-carnival-inc-scvl-downgraded-to-hold-at-zacks-investment-research.html
Shares of Shoe Carnival (NASDAQ:SCVL) opened at 26.77 on Friday. The stock’s 50 day moving average price is $27.43 and its 200-day moving average price is $25.96. The stock has a market cap of $503.86 million, a price-to-earnings ratio of 18.24 and a beta of 0.97. Shoe Carnival has a 1-year low of $17.36 and a 1-year high of $30.13.
Shoe Carnival (NASDAQ:SCVL) last issued 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 the consensus estimate of $237.22 million. Shoe Carnival had a net margin of 2.84% and a return on equity of 8.33%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. On average, equities research analysts forecast that Shoe Carnival will post $1.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, September 29th. Shoe Carnival’s payout ratio is 19.18%.
A number of hedge funds have recently added to or reduced their stakes in SCVL. Alliancebernstein L.P. increased 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. Metropolitan Life Insurance Co. NY increased its stake in Shoe Carnival by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 11,847 shares of the company’s stock worth $319,000 after buying an additional 530 shares during the last quarter. Strs Ohio increased its stake in Shoe Carnival by 8.4% in the second quarter. Strs Ohio now owns 25,900 shares of the company’s stock worth $649,000 after buying an additional 2,000 shares during the last quarter. WBI Investments Inc. purchased a new stake in Shoe Carnival during the second quarter worth about $663,000. Finally, Teachers Advisors Inc. increased its stake in Shoe Carnival by 8.0% in the second quarter. Teachers Advisors Inc. now owns 37,178 shares of the company’s stock worth $932,000 after buying an additional 2,759 shares during the last quarter. 64.95% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Shoe Carnival Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoe Carnival Inc. and related companies with MarketBeat.com's FREE daily email newsletter.