Shoe Carnival, Inc. (NASDAQ:SCVL) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a hold rating to a sell rating in a research note published on Tuesday, July 11th.

SCVL has been the subject of several other research reports. Jefferies Group LLC set a $26.00 target price on shares of Shoe Carnival and gave the company a hold rating in a research note on Friday, March 17th. Susquehanna Bancshares Inc reissued a neutral rating and issued a $24.00 target price on shares of Shoe Carnival in a research note on Monday, March 27th. Johnson Rice downgraded shares of Shoe Carnival from a buy rating to an accumulate rating in a research note on Friday, March 24th. Zacks Investment Research raised shares of Shoe Carnival from a strong sell rating to a hold rating in a research note on Wednesday, July 5th. Finally, TheStreet cut Shoe Carnival from a b- rating to a c+ rating in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $24.00.

Shares of Shoe Carnival (NASDAQ:SCVL) traded up 0.72% during midday trading on Tuesday, hitting $16.85. 99,328 shares of the stock were exchanged. The firm has a 50-day moving average price of $18.80 and a 200 day moving average price of $22.53. Shoe Carnival has a 12-month low of $16.68 and a 12-month high of $31.79. The firm has a market cap of $290.78 million, a PE ratio of 14.33 and a beta of 0.95.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $253.40 million during the quarter, compared to the consensus estimate of $251.74 million. Shoe Carnival had a return on equity of 7.27% and a net margin of 2.12%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 EPS. Analysts predict that Shoe Carnival will post $1.41 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, June 29th. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.07. Shoe Carnival’s dividend payout ratio is currently 25.21%.

A number of institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its position in Shoe Carnival by 2.6% in the first quarter. Royce & Associates LP now owns 2,032,719 shares of the company’s stock worth $49,944,000 after buying an additional 50,800 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Shoe Carnival by 4.2% in the first quarter. Vanguard Group Inc. now owns 687,504 shares of the company’s stock worth $16,893,000 after buying an additional 27,447 shares during the last quarter. Northern Trust Corp raised its position 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 buying an additional 101,530 shares during the last quarter. State Street Corp raised its position in shares of Shoe Carnival by 6.6% in the fourth quarter. State Street Corp now owns 396,715 shares of the company’s stock worth $10,699,000 after buying an additional 24,412 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Shoe Carnival by 1.8% in the first quarter. LSV Asset Management now owns 238,486 shares of the company’s stock worth $5,859,000 after buying an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 62.78% 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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