Shoe Carnival (NASDAQ:SCVL) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Shoe Carnival (NASDAQ:SCVL – Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other equities analysts have also recently commented on the company. Seaport Res Ptn cut Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Zacks Research cut Shoe Carnival from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

View Our Latest Report on Shoe Carnival

Shoe Carnival Price Performance

NASDAQ:SCVL opened at $20.90 on Friday. The company has a market cap of $571.41 million, a price-to-earnings ratio of 8.74 and a beta of 1.35. The stock’s 50 day simple moving average is $20.87 and its two-hundred day simple moving average is $20.37. Shoe Carnival has a 1 year low of $16.14 and a 1 year high of $46.92.

Shoe Carnival (NASDAQ:SCVL – Get Free Report) last announced its earnings results on Friday, May 30th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $277.72 million during the quarter, compared to analysts’ expectations of $285.16 million. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The company’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, analysts anticipate that Shoe Carnival will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. Shoe Carnival’s payout ratio is 25.10%.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Public Sector Pension Investment Board raised its position in Shoe Carnival by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 60,134 shares of the company’s stock valued at $1,125,000 after purchasing an additional 4,135 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Shoe Carnival by 20.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 15,959 shares of the company’s stock valued at $298,000 after purchasing an additional 2,673 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Shoe Carnival by 972.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 28,146 shares of the company’s stock valued at $527,000 after purchasing an additional 25,522 shares in the last quarter. Wasatch Advisors LP raised its position in Shoe Carnival by 37.9% during the 2nd quarter. Wasatch Advisors LP now owns 366,653 shares of the company’s stock valued at $6,860,000 after purchasing an additional 100,832 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its position in Shoe Carnival by 38.2% during the 2nd quarter. Snowden Capital Advisors LLC now owns 18,728 shares of the company’s stock valued at $350,000 after purchasing an additional 5,179 shares in the last quarter. 66.05% of the stock is owned by institutional investors.

Shoe Carnival Company Profile

(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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