Shoe Carnival, Inc. (NASDAQ:SCVL) Given Average Rating of "Reduce" by Analysts

Key Points

• Shoe Carnival, Inc. has received a consensus recommendation of "Hold" from analysts, with one buy, one hold, and one sell rating.
• The company reported earnings of $0.34 per share for the last quarter, surpassing estimates, but its revenue of $277.72 million fell short of the forecast.
• Shoe Carnival recently announced a quarterly dividend of $0.15, resulting in a 2.7% dividend yield with a payout ratio of 25.10%.

Shares of Shoe Carnival, Inc. (NASDAQ:SCVL - Get Free Report) have been given an average rating of "Reduce" by the two analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and one has issued a hold recommendation on the company.

Several research analysts have recently issued reports on SCVL shares. Seaport Res Ptn cut Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Wall Street Zen cut Shoe Carnival from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Zacks Research cut Shoe Carnival from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th.

Institutional Investors Weigh In On Shoe Carnival

Several hedge funds have recently modified their holdings of SCVL. NBC Securities Inc. lifted its holdings in shares of Shoe Carnival by 145,700.0% during the first quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock valued at $32,000 after purchasing an additional 1,457 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Shoe Carnival during the first quarter valued at $33,000. First Horizon Advisors Inc. lifted its holdings in shares of Shoe Carnival by 33.8% during the second quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company's stock valued at $36,000 after purchasing an additional 486 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Shoe Carnival by 404.0% during the first quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock valued at $55,000 after purchasing an additional 2,012 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Shoe Carnival by 188.3% during the first quarter. CWM LLC now owns 3,883 shares of the company's stock valued at $85,000 after purchasing an additional 2,536 shares during the last quarter. 66.05% of the stock is owned by hedge funds and other institutional investors.

Shoe Carnival Stock Performance

Shares of SCVL traded down $0.22 during mid-day trading on Thursday, reaching $20.90. 344,496 shares of the company's stock traded hands, compared to its average volume of 355,838. The business's 50-day moving average price is $20.83 and its 200-day moving average price is $20.43. The stock has a market capitalization of $571.32 million, a P/E ratio of 8.74 and a beta of 1.46. Shoe Carnival has a 12 month low of $16.14 and a 12 month high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings results on Friday, May 30th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The company had revenue of $277.72 million for the quarter, compared to analysts' expectations of $285.16 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. Equities research analysts anticipate that Shoe Carnival will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.60 annualized dividend and a yield of 2.9%. Shoe Carnival's dividend payout ratio (DPR) is currently 25.10%.

About Shoe Carnival

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.