Shoe Carnival (NASDAQ:SCVL) Shares Gap Down – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SCVL) gapped down before the market opened on Thursday . The stock had previously closed at $22.65, but opened at $21.40. Shoe Carnival shares last traded at $22.72, with a volume of 136,518 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a report on Saturday, November 30th.

Shoe Carnival Price Performance

The stock has a market capitalization of $584.81 million, a price-to-earnings ratio of 7.91 and a beta of 1.51. The business’s fifty day moving average price is $25.07 and its 200-day moving average price is $32.87.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company had revenue of $262.90 million for the quarter, compared to analyst estimates of $277.89 million. During the same period last year, the firm earned $0.59 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Equities research analysts predict that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.15 per share. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, April 7th. Shoe Carnival’s dividend payout ratio (DPR) is presently 19.85%.

Shoe Carnival declared that its board has authorized a share repurchase plan on Thursday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after purchasing an additional 343 shares in the last quarter. Sei Investments Co. raised its position in Shoe Carnival by 0.8% in the fourth quarter. Sei Investments Co. now owns 56,940 shares of the company’s stock worth $1,884,000 after acquiring an additional 437 shares during the period. Sterling Capital Management LLC raised its position in Shoe Carnival by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 9,284 shares of the company’s stock worth $307,000 after acquiring an additional 511 shares during the period. Price T Rowe Associates Inc. MD raised its position in Shoe Carnival by 17.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the company’s stock worth $225,000 after acquiring an additional 987 shares during the period. Finally, Snowden Capital Advisors LLC raised its position in Shoe Carnival by 9.1% in the fourth quarter. Snowden Capital Advisors LLC now owns 13,447 shares of the company’s stock worth $445,000 after acquiring an additional 1,123 shares during the period. 66.05% of the stock is 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 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.