Shoe Carnival, Inc. to Post Q2 2018 Earnings of $0.21 Per Share, Wedbush Forecasts (SCVL)
Shoe Carnival, Inc. (NASDAQ:SCVL) – Wedbush issued their Q2 2018 earnings estimates for Shoe Carnival in a research note issued to investors on Monday. Wedbush analyst C. Svezia anticipates that the company will earn $0.21 per share for the quarter. Wedbush has a “Outperform” rating and a $21.00 price target on the stock. Wedbush also issued estimates for Shoe Carnival’s Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.13 EPS, FY2018 earnings at $1.40 EPS and FY2019 earnings at $1.57 EPS.
Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $251.74 million. Shoe Carnival had a net margin of 2.12% and a return on equity of 7.27%. Shoe Carnival’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share.
SCVL has been the topic of several other research reports. BidaskClub cut shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Sidoti upgraded shares of Shoe Carnival from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. TheStreet cut shares of Shoe Carnival from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, B. Riley reiterated a “neutral” rating and issued a $26.00 price target on shares of Shoe Carnival in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.57.
Shares of Shoe Carnival (SCVL) traded up 2.27% on Wednesday, reaching $17.15. 46,767 shares of the company traded hands. The stock has a market capitalization of $295.96 million, a P/E ratio of 14.58 and a beta of 0.95. The stock’s 50 day moving average price is $18.66 and its 200-day moving average price is $22.36. Shoe Carnival has a one year low of $16.61 and a one year high of $31.79.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, June 29th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.07. Shoe Carnival’s payout ratio is currently 25.21%.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Shoe Carnival during the second quarter valued at about $175,000. Goldman Sachs Group Inc. raised its position in Shoe Carnival by 140.8% in the second quarter. Goldman Sachs Group Inc. now owns 33,355 shares of the company’s stock valued at $697,000 after buying an additional 19,501 shares in the last quarter. Petrus Trust Company LTA bought a new position in Shoe Carnival during the second quarter valued at about $352,000. OxFORD Asset Management LLP bought a new position in Shoe Carnival during the second quarter valued at about $539,000. Finally, Citadel Advisors LLC bought a new position in Shoe Carnival during the second quarter valued at about $1,233,000. 62.24% of the stock is owned by hedge funds and other institutional investors.
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. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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