StockNews.com Downgrades Shoe Carnival (NASDAQ:SCVL) to Sell

StockNews.com lowered shares of Shoe Carnival (NASDAQ:SCVL) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Separately, Williams Trading upped their price target on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Stock Up 3.1 %

SCVL stock opened at $34.94 on Friday. Shoe Carnival has a fifty-two week low of $22.75 and a fifty-two week high of $46.92. The business’s 50 day moving average price is $38.78 and its two-hundred day moving average price is $38.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 3.88. The company has a market capitalization of $949.32 million, a price-to-earnings ratio of 12.85 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The firm had revenue of $332.70 million for the quarter, compared to the consensus estimate of $331.45 million. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts forecast that Shoe Carnival will post 2.67 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a $0.135 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.54 annualized dividend and a dividend yield of 1.55%. Shoe Carnival’s payout ratio is currently 19.85%.

Institutional Trading of Shoe Carnival

Several hedge funds and other institutional investors have recently made changes to their positions in SCVL. Innealta Capital LLC bought a new position in Shoe Carnival in the 2nd quarter valued at approximately $41,000. Harvest Fund Management Co. Ltd bought a new position in Shoe Carnival in the 3rd quarter valued at approximately $62,000. Quarry LP bought a new position in Shoe Carnival in the 3rd quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Shoe Carnival in the 3rd quarter valued at approximately $76,000. Finally, FMR LLC lifted its position in Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other 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 operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.