Shoe Carnival (NASDAQ:SCVL) Rating Increased to Hold at Wall Street Zen

Key Points

• Research analysts at Wall Street Zen upgraded Shoe Carnival's rating from "sell" to "hold" in a recent report.
• Shoe Carnival's stock currently has an average rating of "Reduce", following a downgrade by Zacks Research from "hold" to "strong sell".
• The company reported a net margin of 5.41% and revenue of $306.39 million for the quarter, which was below the consensus estimate of $318.31 million.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Friday.

Other equities analysts have also recently issued reports about the stock. Seaport Res Ptn cut shares of Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Zacks Research cut shares of Shoe Carnival from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Shoe Carnival Price Performance

Shares of SCVL stock traded down $0.18 on Friday, hitting $21.48. 295,461 shares of the stock traded hands, compared to its average volume of 511,306. The firm has a market cap of $587.91 million, a price-to-earnings ratio of 9.46 and a beta of 1.35. Shoe Carnival has a 52 week low of $16.14 and a 52 week high of $43.97. The firm has a 50 day simple moving average of $21.85 and a two-hundred day simple moving average of $20.47.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. The firm had revenue of $306.39 million for the quarter, compared to the consensus estimate of $318.31 million. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The company's revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. Sell-side analysts forecast that Shoe Carnival will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Shoe Carnival

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Copeland Capital Management LLC grew its stake in shares of Shoe Carnival by 22.8% in the 2nd quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company's stock worth $32,146,000 after buying an additional 318,771 shares in the last quarter. New South Capital Management Inc. lifted its holdings in shares of Shoe Carnival by 189.9% in the 1st quarter. New South Capital Management Inc. now owns 699,824 shares of the company's stock worth $15,389,000 after acquiring an additional 458,412 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Shoe Carnival by 51.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 642,771 shares of the company's stock worth $12,026,000 after acquiring an additional 219,443 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Shoe Carnival by 2.6% in the 2nd quarter. American Century Companies Inc. now owns 585,175 shares of the company's stock worth $10,949,000 after acquiring an additional 14,577 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Shoe Carnival by 8.5% in the 1st quarter. Northern Trust Corp now owns 550,844 shares of the company's stock worth $12,113,000 after acquiring an additional 43,183 shares during the last quarter. 66.05% of the stock is owned by hedge funds and other 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.

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