A number of other brokerages have also recently issued reports on SCVL. Zacks Investment Research raised shares of Shoe Carnival from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research note on Saturday, August 31st. Wedbush reissued an outperform rating on shares of Shoe Carnival in a research note on Thursday, August 29th. BidaskClub raised shares of Shoe Carnival from a strong sell rating to a sell rating in a research note on Wednesday, August 21st. Finally, Pivotal Research set a $31.00 price objective on shares of Shoe Carnival and gave the company a buy rating in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Shoe Carnival has a consensus rating of Buy and a consensus target price of $34.75.
SCVL stock traded up $0.11 during mid-day trading on Tuesday, hitting $32.18. 5,096 shares of the company were exchanged, compared to its average volume of 340,089. The business has a 50 day simple moving average of $26.15 and a 200-day simple moving average of $30.06. The company has a current ratio of 2.21, a quick ratio of 0.29 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $477.57 million, a PE ratio of 13.21 and a beta of 0.85. Shoe Carnival has a 1-year low of $21.47 and a 1-year high of $43.75.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The firm had revenue of $268.22 million during the quarter, compared to the consensus estimate of $268.62 million. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.32%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. Equities research analysts expect that Shoe Carnival will post 2.65 earnings per share for the current year.
In related news, Director Charles B. Tomm sold 8,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $29.49, for a total value of $235,920.00. Following the sale, the director now owns 13,039 shares of the company’s stock, valued at $384,520.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kent A. Kleeberger sold 1,090 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $28.68, for a total transaction of $31,261.20. Following the completion of the sale, the director now directly owns 15,054 shares in the company, valued at approximately $431,748.72. The disclosure for this sale can be found here. Insiders own 23.60% of the company’s stock.
Several institutional investors have recently modified their holdings of SCVL. Balyasny Asset Management LLC bought a new stake in shares of Shoe Carnival in the second quarter worth $8,155,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of Shoe Carnival by 482.1% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 327,180 shares of the company’s stock valued at $11,133,000 after buying an additional 270,976 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Shoe Carnival during the 2nd quarter valued at approximately $4,640,000. Royce & Associates LP lifted its stake in Shoe Carnival by 32.0% in the 1st quarter. Royce & Associates LP now owns 639,932 shares of the company’s stock worth $21,777,000 after purchasing an additional 155,068 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Shoe Carnival by 463.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 174,348 shares of the company’s stock worth $4,808,000 after purchasing an additional 143,420 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.
Shoe Carnival Company Profile
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, scarves, and wallets.
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