Zacks: Brokerages Expect Shoe Carnival, Inc. (SCVL) to Post $0.06 Earnings Per Share

Equities analysts forecast that Shoe Carnival, Inc. (NASDAQ:SCVL) will post earnings per share of $0.06 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Shoe Carnival’s earnings. The highest EPS estimate is $0.07 and the lowest is $0.05. Shoe Carnival posted earnings of $0.07 per share in the same quarter last year, which would suggest a negative year over year growth rate of 14.3%. The business is expected to issue its next earnings results on Thursday, March 22nd.

According to Zacks, analysts expect that Shoe Carnival will report full-year earnings of $1.48 per share for the current financial year, with EPS estimates ranging from $1.47 to $1.48. For the next fiscal year, analysts forecast that the firm will post earnings of $1.83 per share, with EPS estimates ranging from $1.60 to $2.05. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Shoe Carnival.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, November 16th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. The company had revenue of $287.47 million during the quarter, compared to analysts’ expectations of $286.90 million.

A number of equities research analysts have commented on the company. BidaskClub upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Jefferies Group set a $22.00 price target on Shoe Carnival and gave the company a “hold” rating in a research note on Saturday, November 18th. TheStreet upgraded Shoe Carnival from a “c” rating to a “b-” rating in a research note on Friday, November 17th. Susquehanna Bancshares reiterated a “buy” rating and issued a $28.00 price target on shares of Shoe Carnival in a research note on Friday, November 17th. Finally, Zacks Investment Research upgraded Shoe Carnival from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, October 3rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $25.86.

Several large investors have recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Shoe Carnival by 17.8% in the second quarter. Northern Trust Corp now owns 673,302 shares of the company’s stock worth $14,059,000 after purchasing an additional 101,530 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Shoe Carnival in the fourth quarter worth about $5,637,000. Foundry Partners LLC purchased a new position in shares of Shoe Carnival in the third quarter worth about $4,080,000. Schwab Charles Investment Management Inc. raised its stake in shares of Shoe Carnival by 20.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 167,431 shares of the company’s stock worth $4,479,000 after purchasing an additional 28,356 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Shoe Carnival by 86.0% in the third quarter. Citadel Advisors LLC now owns 109,802 shares of the company’s stock worth $2,457,000 after purchasing an additional 50,759 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Shoe Carnival (SCVL) traded up $0.88 during trading on Tuesday, reaching $26.32. The company’s stock had a trading volume of 529,500 shares, compared to its average volume of 268,043. Shoe Carnival has a 52 week low of $15.07 and a 52 week high of $28.38. The stock has a market capitalization of $431.25, a PE ratio of 19.79, a PEG ratio of 1.44 and a beta of 1.06.

Shoe Carnival declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 19th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Stockholders of record on Monday, January 8th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, January 5th. Shoe Carnival’s payout ratio is 22.56%.

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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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Earnings History and Estimates for Shoe Carnival (NASDAQ:SCVL)

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