Zacks Investment Research lowered shares of Shoe Carnival, Inc. (NASDAQ:SCVL) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “

SCVL has been the subject of a number of other reports. Susquehanna Bancshares Inc reiterated a hold rating and set a $18.00 price target on shares of Shoe Carnival in a research report on Monday, August 28th. Jefferies Group LLC reiterated a hold rating and set a $20.00 price target (down from $21.00) on shares of Shoe Carnival in a research report on Thursday, August 31st. ValuEngine upgraded shares of Shoe Carnival from a hold rating to a buy rating in a research report on Wednesday, May 24th. TheStreet cut shares of Shoe Carnival from a b- rating to a c+ rating in a research report on Tuesday, May 23rd. Finally, BidaskClub cut shares of Shoe Carnival from a sell rating to a strong sell rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $22.14.

Shoe Carnival (SCVL) traded up 3.68% during midday trading on Tuesday, reaching $20.87. 50,502 shares of the company’s stock traded hands. The company has a market capitalization of $355.19 million, a price-to-earnings ratio of 17.26 and a beta of 0.93. The firm’s 50-day moving average is $17.66 and its 200-day moving average is $20.94. Shoe Carnival has a 1-year low of $15.08 and a 1-year high of $31.79.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The firm had revenue of $235.10 million during the quarter, compared to analysts’ expectations of $232.26 million. During the same period last year, the business earned $0.22 earnings per share. Shoe Carnival’s revenue was up 1.4% compared to the same quarter last year. Analysts forecast that Shoe Carnival will post $1.44 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, September 29th. Shoe Carnival’s payout ratio is 24.79%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of Shoe Carnival by 2.6% in the first quarter. Royce & Associates LP now owns 2,032,719 shares of the company’s stock valued at $49,944,000 after purchasing an additional 50,800 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $16,893,000 after purchasing an additional 27,447 shares during the period. Northern Trust Corp boosted its stake 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 valued at $14,059,000 after purchasing an additional 101,530 shares during the period. Geode Capital Management LLC boosted its stake in shares of Shoe Carnival by 7.5% in the first quarter. Geode Capital Management LLC now owns 225,430 shares of the company’s stock valued at $5,537,000 after purchasing an additional 15,799 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Shoe Carnival by 35.7% in the second quarter. Prudential Financial Inc. now owns 153,749 shares of the company’s stock valued at $3,210,000 after purchasing an additional 40,480 shares during the period. 62.74% of the stock is 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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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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