Zacks Investment Research Upgrades Shoe Carnival, Inc. (NASDAQ:SCVL) to “Hold”
Shoe Carnival, Inc. (NASDAQ:SCVL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
A number of other research analysts have also recently commented on SCVL. B. Riley reaffirmed a “neutral” rating and set a $26.00 target price on shares of Shoe Carnival in a research note on Wednesday, May 3rd. ValuEngine cut Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet cut Shoe Carnival from a “b-” rating to a “c+” rating in a research note on Tuesday, May 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $21.00 price objective (down previously from $26.00) on shares of Shoe Carnival in a research note on Thursday, May 25th. Finally, Sidoti raised Shoe Carnival from a “neutral” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Wednesday, June 28th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.00.
Shoe Carnival (NASDAQ:SCVL) opened at 20.65 on Wednesday. Shoe Carnival has a 12 month low of $17.56 and a 12 month high of $31.79. The stock’s 50 day moving average price is $20.18 and its 200 day moving average price is $24.25. The company has a market capitalization of $356.36 million, a price-to-earnings ratio of 17.56 and a beta of 0.98.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Wednesday, May 24th. The company reported $0.48 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. Shoe Carnival had a return on equity of 7.27% and a net margin of 2.12%. The company had revenue of $253.40 million for the quarter, compared to analysts’ expectations of $251.74 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Shoe Carnival will post $1.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Monday, July 3rd will be paid a $0.075 dividend. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, June 29th. This represents a $0.30 dividend on an annualized basis and a yield of 1.45%. Shoe Carnival’s dividend payout ratio (DPR) is 25.21%.
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A number of institutional investors have recently modified their holdings of the company. Beacon Capital Management purchased a new position in shares of Shoe Carnival during the fourth quarter worth about $0. TFS Capital LLC raised its position in shares of Shoe Carnival by 366.2% in the fourth quarter. TFS Capital LLC now owns 74,290 shares of the company’s stock worth $1,724,000 after buying an additional 58,356 shares during the period. Numeric Investors LLC purchased a new position in shares of Shoe Carnival during the fourth quarter worth about $2,707,000. LSV Asset Management raised its position in shares of Shoe Carnival by 26.2% in the fourth quarter. LSV Asset Management now owns 90,037 shares of the company’s stock worth $2,088,000 after buying an additional 18,700 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Shoe Carnival by 22.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 51,486 shares of the company’s stock worth $1,195,000 after buying an additional 9,347 shares during the period. Institutional investors own 65.05% 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. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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