Shoe Carnival (NASDAQ:SCVL) PT Lowered to $27.00

Shoe Carnival (NASDAQ:SCVL) had its price target lowered by Monness Crespi & Hardt from $36.00 to $27.00 in a research report report published on Friday, Briefing.com reports. The brokerage currently has a buy rating on the stock.

Separately, StockNews.com started coverage on shares of Shoe Carnival in a report on Thursday, October 5th. They set a hold rating on the stock.

Shoe Carnival Stock Performance

Shares of NASDAQ:SCVL opened at $23.63 on Friday. The stock has a market capitalization of $646.52 million, a price-to-earnings ratio of 8.15 and a beta of 1.47. Shoe Carnival has a 1-year low of $19.24 and a 1-year high of $29.47. The company’s fifty day moving average is $23.39 and its two-hundred day moving average is $23.22.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, November 16th. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.17). The business had revenue of $319.90 million for the quarter, compared to analyst estimates of $321.03 million. Shoe Carnival had a return on equity of 14.52% and a net margin of 6.70%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. Sell-side analysts expect that Shoe Carnival will post 2.7 EPS for the current fiscal year.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were given a dividend of $0.12 per share. The ex-dividend date was Monday, October 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.03%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.10. Shoe Carnival’s dividend payout ratio is currently 16.55%.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can grew its position in shares of Shoe Carnival by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 15,494 shares of the company’s stock worth $463,000 after acquiring an additional 592 shares during the last quarter. Point72 Hong Kong Ltd grew its position in Shoe Carnival by 14.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock valued at $101,000 after buying an additional 602 shares in the last quarter. Russell Investments Group Ltd. grew its position in Shoe Carnival by 1.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 65,767 shares of the company’s stock valued at $1,544,000 after buying an additional 666 shares in the last quarter. Advisory Services Network LLC grew its position in Shoe Carnival by 124.8% in the 1st quarter. Advisory Services Network LLC now owns 1,261 shares of the company’s stock valued at $32,000 after buying an additional 700 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Shoe Carnival by 54.3% in the 1st quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock valued at $66,000 after buying an additional 802 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also sells its products through online shopping at shoecarnival.com, as well as through mobile application.