Several brokerages have updated their recommendations and price targets on shares of Shoe Carnival (NASDAQ: SCVL) in the last few weeks:

  • 11/16/2018 – Shoe Carnival had its price target lowered by analysts at Wedbush from $47.00 to $45.00. They now have an “outperform” rating on the stock.
  • 11/15/2018 – Shoe Carnival was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $45.00 price target on the stock. According to Zacks, “Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. The Company operates 404 stores in 33 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival trades on the NASDAQ Stock Market LLC under the symbol SCVL. Shoe Carnival is committed to earning the highest level of respect of their customers, shareholders, communities and employees. “
  • 11/12/2018 – Shoe Carnival was upgraded by analysts at Pivotal Research from a “hold” rating to a “buy” rating. They now have a $46.00 price target on the stock, up previously from $45.00. They wrote, “We value SCVL on a P/E multiple, and there’s obviously two components to that calculation, both of which now look more favorable. With regard to earnings, while we’re only tweaking numbers today, we now view those estimates with more or an upward bias than before. At the time of our downgrade, SCVL was experiencing strong performance of its seasonal footwear, namely sandals, and we said that we were uncomfortable extrapolating this strength beyond 2Q and early 3Q, as seasonal turns into boots for late 3Q and 4Q, and boots are a separate trend from sandals. As it turns out, we believe that boots performed well in late 3Q, and we are also now more bullish on boots for 4Q, based on favorable near-term weather forecasts.””
  • 10/31/2018 – Shoe Carnival was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. The Company operates 404 stores in 33 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival trades on the NASDAQ Stock Market LLC under the symbol SCVL. Shoe Carnival is committed to earning the highest level of respect of their customers, shareholders, communities and employees. “
  • 10/16/2018 – Shoe Carnival was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 9/28/2018 – Shoe Carnival was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

Shares of NASDAQ:SCVL traded down $2.50 during trading on Monday, reaching $37.37. 9,348 shares of the company traded hands, compared to its average volume of 457,439. The company has a market cap of $641.47 million, a price-to-earnings ratio of 25.08 and a beta of 0.79. Shoe Carnival, Inc. has a 52 week low of $21.01 and a 52 week high of $45.00.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, November 15th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. Shoe Carnival had a return on equity of 12.51% and a net margin of 3.17%. The firm had revenue of $269.18 million during the quarter, compared to the consensus estimate of $265.40 million. On average, analysts expect that Shoe Carnival, Inc. will post 2.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 22nd. Stockholders of record on Monday, October 8th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Thursday, October 4th. Shoe Carnival’s dividend payout ratio (DPR) is presently 21.48%.

In other news, Director Kent A. Kleeberger sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $44.11, for a total transaction of $95,806.92. Following the completion of the sale, the director now owns 16,460 shares of the company’s stock, valued at approximately $726,050.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in SCVL. Acadian Asset Management LLC lifted its position in shares of Shoe Carnival by 125.7% during the 3rd quarter. Acadian Asset Management LLC now owns 409,843 shares of the company’s stock worth $15,779,000 after buying an additional 228,244 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Shoe Carnival by 163.2% in the third quarter. AQR Capital Management LLC now owns 244,488 shares of the company’s stock worth $9,413,000 after acquiring an additional 151,586 shares during the last quarter. Citadel Advisors LLC lifted its stake in Shoe Carnival by 110.9% in the 2nd quarter. Citadel Advisors LLC now owns 256,079 shares of the company’s stock valued at $8,310,000 after purchasing an additional 134,651 shares during the last quarter. BlackRock Inc. lifted its stake in Shoe Carnival by 7.3% in the 2nd quarter. BlackRock Inc. now owns 1,648,258 shares of the company’s stock valued at $53,485,000 after purchasing an additional 112,623 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Shoe Carnival by 146.6% in the 3rd quarter. American Century Companies Inc. now owns 158,667 shares of the company’s stock valued at $6,109,000 after purchasing an additional 94,328 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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