Shoe Carnival (NASDAQ:SCVL) Updates FY 2021 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.000-$5.100 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.500. The company issued revenue guidance of $1.29 billion-$1.29 billion, compared to the consensus revenue estimate of $1.23 billion.

Shares of Shoe Carnival stock traded down $0.84 during trading on Thursday, hitting $43.06. The stock had a trading volume of 222,190 shares, compared to its average volume of 280,670. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 11.26 and a beta of 1.48. Shoe Carnival has a 12 month low of $17.68 and a 12 month high of $46.21. The business’s 50-day moving average is $36.03 and its 200 day moving average is $34.97.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Wednesday, November 17th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.49. Shoe Carnival had a net margin of 9.21% and a return on equity of 32.38%. During the same period in the previous year, the company earned $0.51 EPS. On average, sell-side analysts expect that Shoe Carnival will post 4.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 18th. Investors of record on Monday, October 4th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, October 1st. This represents a $0.28 annualized dividend and a yield of 0.65%. Shoe Carnival’s dividend payout ratio (DPR) is presently 7.32%.

Several research analysts recently issued reports on the stock. Pivotal Research upped their target price on shares of Shoe Carnival from $44.00 to $46.00 and gave the stock a buy rating in a research report on Thursday, August 19th. Monness Crespi & Hardt began coverage on shares of Shoe Carnival in a research report on Thursday, August 19th. They set a buy rating and a $42.00 price target for the company.

In other news, Director Kent A. Kleeberger sold 1,500 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $37.46, for a total transaction of $56,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 32.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. American International Group Inc. increased its position in shares of Shoe Carnival by 93.7% during the third quarter. American International Group Inc. now owns 11,076 shares of the company’s stock valued at $359,000 after acquiring an additional 5,358 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Shoe Carnival by 102.4% during the third quarter. Bank of New York Mellon Corp now owns 229,501 shares of the company’s stock valued at $7,441,000 after acquiring an additional 116,121 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Shoe Carnival by 51.1% during the third quarter. Morgan Stanley now owns 134,805 shares of the company’s stock valued at $4,370,000 after acquiring an additional 45,570 shares in the last quarter. 35.27% of the stock is owned by institutional investors and hedge funds.

About Shoe Carnival

Shoe Carnival, Inc engages in the retail of footwear products. It offers casual and athletic footwear for men, women, and children under the Skechers, Clarks, Adidas, Crocs, New Balance, Converse, Roxy, Nike, Vans, Madden Girl, Sperry, Rampage, Keds, PUMA, Timberland, Koolaburra, Jellypop, and ASICS brands.

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Earnings History and Estimates for Shoe Carnival (NASDAQ:SCVL)

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