BidaskClub upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a sell rating to a hold rating in a research note released on Friday morning.

Several other equities research analysts have also issued reports on the company. Wedbush reissued a buy rating and set a $33.00 price target (up from $27.00) on shares of Shoe Carnival in a research report on Tuesday, December 19th. Jefferies Group set a $22.00 price target on Shoe Carnival and gave the company a hold rating in a research report on Saturday, November 18th. TheStreet raised Shoe Carnival from a c rating to a b- rating in a research report on Friday, November 17th. Susquehanna Bancshares reissued a buy rating and set a $28.00 price target on shares of Shoe Carnival in a research report on Friday, November 17th. Finally, Pivotal Research started coverage on Shoe Carnival in a research report on Tuesday, November 21st. They set a hold rating and a $28.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $25.86.

Shares of Shoe Carnival (SCVL) opened at $22.83 on Friday. The stock has a market capitalization of $395.32, a P/E ratio of 17.17, a P/E/G ratio of 1.06 and a beta of 0.91. Shoe Carnival has a 52-week low of $15.07 and a 52-week high of $28.38.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. The business had revenue of $287.47 million for the quarter, compared to analyst estimates of $286.90 million. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. research analysts anticipate that Shoe Carnival will post 1.48 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Investors of record on Monday, January 8th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, January 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.31%. Shoe Carnival’s payout ratio is currently 22.56%.

Shoe Carnival declared that its Board of Directors has approved a share buyback program on Tuesday, December 19th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of SCVL. Arrowstreet Capital Limited Partnership bought a new position in Shoe Carnival during the 4th quarter worth $6,858,000. Acadian Asset Management LLC bought a new position in Shoe Carnival during the 4th quarter worth $5,637,000. Foundry Partners LLC bought a new position in Shoe Carnival during the 3rd quarter worth $4,080,000. LSV Asset Management grew its stake in Shoe Carnival by 33.6% during the 4th quarter. LSV Asset Management now owns 588,186 shares of the company’s stock worth $15,733,000 after buying an additional 147,800 shares during the last quarter. Finally, Monarch Partners Asset Management LLC grew its stake in Shoe Carnival by 811.2% during the 4th quarter. Monarch Partners Asset Management LLC now owns 131,400 shares of the company’s stock worth $3,515,000 after buying an additional 116,980 shares during the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.

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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.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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