Shoe Carnival, Inc. (NASDAQ:SCVL) Receives Consensus Recommendation of “Hold” from Brokerages
by Jessica Moore · The Cerbat GemShares of Shoe Carnival, Inc. (NASDAQ:SCVL – Get Free Report) have been assigned a consensus recommendation of “Hold” from the three ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation.
A number of brokerages have weighed in on SCVL. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Zacks Research downgraded shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th.
Check Out Our Latest Stock Report on SCVL
Shoe Carnival Trading Down 2.1%
Shoe Carnival stock opened at $18.98 on Friday. Shoe Carnival has a 1-year low of $15.21 and a 1-year high of $30.92. The firm has a market capitalization of $519.58 million, a PE ratio of 9.04 and a beta of 1.31. The firm’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $19.85.
Shoe Carnival (NASDAQ:SCVL – Get Free Report) last released its quarterly earnings results on Thursday, November 20th. The company reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $297.16 million during the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 EPS. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Research analysts forecast that Shoe Carnival will post 2.6 earnings per share for the current year.
Shoe Carnival announced that its board has initiated a share repurchase program on Friday, December 12th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 9.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
Shoe Carnival Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Stockholders 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 dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, January 12th. Shoe Carnival’s payout ratio is currently 28.57%.
Institutional Investors Weigh In On Shoe Carnival
A number of large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in shares of Shoe Carnival by 33.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock worth $36,000 after purchasing an additional 486 shares in the last quarter. State of Alaska Department of Revenue grew its position in Shoe Carnival by 8.0% during the second quarter. State of Alaska Department of Revenue now owns 10,567 shares of the company’s stock valued at $196,000 after acquiring an additional 779 shares during the last quarter. Huntington National Bank raised its stake in shares of Shoe Carnival by 164.8% during the third quarter. Huntington National Bank now owns 1,491 shares of the company’s stock worth $31,000 after acquiring an additional 928 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Shoe Carnival by 6.1% in the 2nd quarter. Prudential Financial Inc. now owns 18,768 shares of the company’s stock worth $351,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Sonora Investment Management Group LLC boosted its stake in shares of Shoe Carnival by 1.2% in the 3rd quarter. Sonora Investment Management Group LLC now owns 91,461 shares of the company’s stock valued at $1,901,000 after purchasing an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.
About Shoe Carnival
Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.
Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.