Stock Buyback Program Declared by Shoe Carnival (NASDAQ:SCVL) Board of Directors

Shoe Carnival (NASDAQ:SCVL) announced that its board has approved a stock repurchase plan on Friday, December 12th, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SCVL shares. Wall Street Zen raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research report on Monday, December 8th. Seaport Res Ptn cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Zacks Research cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Shoe Carnival Stock Performance

NASDAQ:SCVL opened at $18.74 on Friday. Shoe Carnival has a one year low of $15.21 and a one year high of $36.94. The stock has a 50-day simple moving average of $18.17 and a 200 day simple moving average of $20.04. The company has a market capitalization of $513.10 million, a price-to-earnings ratio of 8.92 and a beta of 1.32.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, November 20th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. The business had revenue of $297.16 million for the quarter, compared to analyst estimates of $295.25 million. During the same period in the previous year, the business earned $0.71 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. On average, equities research analysts forecast that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Monday, January 12th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, January 12th. Shoe Carnival’s payout ratio is currently 28.57%.

Insider Activity at Shoe Carnival

In related news, Director Andrea R. Guthrie sold 2,477 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total value of $50,035.40. Following the sale, the director directly owned 24,405 shares in the company, valued at $492,981. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 35.50% of the stock is currently owned by company insiders.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.