Susquehanna Bancshares Inc upgraded shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a neutral rating to a positive rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has $23.00 target price on the stock, up from their prior target price of $19.00.
A number of other research firms have also weighed in on SCVL. Zacks Investment Research raised Shoe Carnival from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research note on Wednesday. ValuEngine raised Shoe Carnival from a hold rating to a buy rating in a research note on Wednesday, May 24th. BidaskClub lowered Shoe Carnival from a sell rating to a strong sell rating in a research note on Thursday, August 10th. UBS AG raised Shoe Carnival from a neutral rating to a positive rating in a research note on Wednesday. Finally, Jefferies Group LLC reissued a hold rating and set a $21.00 price objective (down previously from $26.00) on shares of Shoe Carnival in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $22.14.
Shoe Carnival (SCVL) opened at 21.14 on Wednesday. The stock’s 50 day moving average price is $17.66 and its 200-day moving average price is $20.94. Shoe Carnival has a 52-week low of $15.08 and a 52-week high of $31.79. The company has a market capitalization of $359.78 million, a P/E ratio of 17.49 and a beta of 0.93.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $235.10 million for the quarter, compared to analyst estimates of $232.26 million. Shoe Carnival had a return on equity of 7.37% and a net margin of 2.09%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Analysts predict that Shoe Carnival will post $1.44 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, September 29th. Shoe Carnival’s dividend payout ratio (DPR) is currently 24.79%.
Several institutional investors have recently made changes to their positions in SCVL. Teachers Advisors LLC lifted its stake in shares of Shoe Carnival by 0.4% in the 4th quarter. Teachers Advisors LLC now owns 37,887 shares of the company’s stock valued at $1,022,000 after purchasing an additional 149 shares during the last quarter. Strs Ohio lifted its stake in shares of Shoe Carnival by 10.8% in the 1st quarter. Strs Ohio now owns 26,600 shares of the company’s stock valued at $653,000 after purchasing an additional 2,600 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Shoe Carnival by 2.2% in the 1st quarter. Russell Investments Group Ltd. now owns 53,541 shares of the company’s stock valued at $1,315,000 after purchasing an additional 1,152 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Shoe Carnival by 6.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 18,693 shares of the company’s stock valued at $459,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Shoe Carnival by 3.7% in the 1st quarter. Comerica Bank now owns 14,693 shares of the company’s stock valued at $376,000 after purchasing an additional 530 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.
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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