Shoe Carnival (NASDAQ:SCVL) Releases FY 2023 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.60-$3.85 for the period, compared to the consensus estimate of $3.73. The company issued revenue guidance of $1.23 billion-$1.25 billion, compared to the consensus revenue estimate of $1.26 billion.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SCVL. StockNews.com began coverage on shares of Shoe Carnival in a research report on Thursday, May 18th. They issued a hold rating for the company. Williams Trading lowered shares of Shoe Carnival from a buy rating to a hold rating in a report on Monday, May 1st.

Shoe Carnival Trading Down 3.4 %

NASDAQ SCVL opened at $19.69 on Friday. The firm has a market cap of $538.32 million, a price-to-earnings ratio of 5.45 and a beta of 1.43. The company has a 50 day moving average of $23.89 and a 200-day moving average of $24.97. Shoe Carnival has a 1-year low of $19.32 and a 1-year high of $29.70.

Shoe Carnival (NASDAQ:SCVL – Get Rating) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Shoe Carnival had a net margin of 8.13% and a return on equity of 19.43%. The firm had revenue of $290.78 million for the quarter, compared to analysts’ expectations of $299.37 million. On average, analysts forecast that Shoe Carnival will post 3.72 earnings per share for the current year.

Shoe Carnival Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Friday, March 31st. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 2.03%. Shoe Carnival’s dividend payout ratio (DPR) is presently 11.08%.

Hedge Funds Weigh In On Shoe Carnival

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC boosted its position in shares of Shoe Carnival by 124.8% during the first quarter. Advisory Services Network LLC now owns 1,261 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Shoe Carnival by 54.3% during the first quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock worth $66,000 after purchasing an additional 802 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Shoe Carnival during the first quarter worth $118,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Shoe Carnival during the third quarter worth $127,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Shoe Carnival during the first quarter worth $200,000. 65.33% of the stock is owned by institutional investors.

Shoe Carnival Company Profile

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Shoe Carnival, Inc engages in the retail of footwear products. It offers casual and athletic footwear for men, women, and children under the Skechers, Clarks, Adidas, Crocs, New Balance, Converse, Roxy, Nike, Vans, Madden Girl, Sperry, Rampage, Keds, PUMA, Timberland, Koolaburra, Jellypop, and ASICS brands.