Shoe Carnival’s (SCVL) “Outperform” Rating Reiterated at Wedbush

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Wedbush restated their outperform rating on shares of Shoe Carnival (NASDAQ:SCVL) in a research note released on Wednesday morning, RTT News reports. Wedbush currently has a $47.00 price target on the stock.

A number of other brokerages also recently weighed in on SCVL. Pivotal Research reissued a buy rating and issued a $45.00 price objective (down from $47.00) on shares of Shoe Carnival in a research note on Tuesday, January 15th. ValuEngine downgraded Shoe Carnival from a buy rating to a hold rating in a research note on Friday, March 1st. BidaskClub downgraded Shoe Carnival from a strong-buy rating to a buy rating in a research note on Thursday, January 31st. Zacks Investment Research downgraded Shoe Carnival from a buy rating to a hold rating in a research note on Wednesday, March 20th. Finally, Sidoti raised Shoe Carnival from a neutral rating to a buy rating in a research note on Friday, April 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $42.20.

SCVL opened at $32.31 on Wednesday. Shoe Carnival has a fifty-two week low of $25.44 and a fifty-two week high of $45.00. The stock has a market cap of $483.78 million, a PE ratio of 13.19 and a beta of 0.76.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Shoe Carnival had a return on equity of 12.42% and a net margin of 3.70%. The business had revenue of $234.70 million for the quarter, compared to the consensus estimate of $232.84 million. During the same period last year, the business earned $0.11 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Shoe Carnival will post 2.67 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, April 5th. Shoe Carnival’s payout ratio is 13.06%.

In other Shoe Carnival news, Director Jeffrey C. Gerstel sold 1,200 shares of Shoe Carnival stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.50, for a total value of $43,800.00. Following the transaction, the director now directly owns 5,526 shares of the company’s stock, valued at approximately $201,699. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 22.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SCVL. WINTON GROUP Ltd bought a new position in Shoe Carnival in the 4th quarter worth approximately $11,025,000. MERIAN GLOBAL INVESTORS UK Ltd increased its position in Shoe Carnival by 482.1% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 327,180 shares of the company’s stock worth $11,133,000 after buying an additional 270,976 shares during the period. Goldman Sachs Group Inc. increased its position in Shoe Carnival by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 572,496 shares of the company’s stock worth $19,482,000 after buying an additional 213,506 shares during the period. Royce & Associates LP increased its position 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 buying an additional 155,068 shares during the period. Finally, Acadian Asset Management LLC increased its position in Shoe Carnival by 32.2% in the 4th quarter. Acadian Asset Management LLC now owns 541,986 shares of the company’s stock worth $18,167,000 after buying an additional 132,143 shares during the period. 91.10% 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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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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