Shoe Carnival (NASDAQ:SCVL) Shares Gap Up – Still a Buy?

by · The Cerbat Gem

Shoe Carnival, Inc. (NASDAQ:SCVL – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $18.39, but opened at $19.77. Shoe Carnival shares last traded at $18.6050, with a volume of 117,869 shares traded.

Analysts Set New Price Targets

SCVL has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Monday. Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Seaport Res Ptn cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Shoe Carnival has an average rating of “Hold”.

Get Our Latest Report on Shoe Carnival

Shoe Carnival Stock Up 3.7%

The company has a market capitalization of $522.27 million, a price-to-earnings ratio of 9.08 and a beta of 1.32. The business’s 50-day moving average is $18.24 and its 200-day moving average is $20.04.

Shoe Carnival (NASDAQ:SCVL – Get Free Report) last posted its earnings results on Thursday, November 20th. The company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $297.16 million for the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a return on equity of 8.75% and a net margin of 5.06%.Shoe Carnival’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. As a group, analysts expect that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Monday, October 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. Shoe Carnival’s payout ratio is presently 28.57%.

Insider Activity

In other news, Director Andrea R. Guthrie sold 2,477 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $20.20, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 35.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shoe Carnival

Several large investors have recently bought and sold shares of SCVL. First Horizon Advisors Inc. raised its holdings in shares of Shoe Carnival by 33.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company’s stock worth $36,000 after acquiring an additional 486 shares during the period. State of Alaska Department of Revenue lifted its stake in Shoe Carnival by 8.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,567 shares of the company’s stock worth $196,000 after acquiring an additional 779 shares in the last quarter. Huntington National Bank lifted its position 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 purchasing an additional 928 shares in the last quarter. Comerica Bank lifted its holdings in Shoe Carnival by 6.7% during the 1st quarter. Comerica Bank now owns 14,835 shares of the company’s stock worth $326,000 after buying an additional 935 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Shoe Carnival by 6.1% in the second quarter. Prudential Financial Inc. now owns 18,768 shares of the company’s stock valued at $351,000 after purchasing an additional 1,072 shares during the period. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

About Shoe Carnival

(Get Free Report)

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.

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