Shoe Carnival (NASDAQ:SCVL) Downgraded by Seaport Res Ptn to "Hold"

Key Points

• Shoe Carnival has been downgraded by Seaport Res Ptn from a "strong-buy" rating to a "hold" rating, reflecting concerns about its future performance.
• In its latest quarterly report, Shoe Carnival reported earnings of $0.34 per share, surpassing estimates, but saw a 7.6% decrease in revenue compared to the same quarter last year.
• Institutional investors own over 66% of Shoe Carnival's shares, indicating significant interest from large financial players in the company.

Seaport Res Ptn lowered shares of Shoe Carnival (NASDAQ:SCVL - Free Report) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports. Seaport Res Ptn also issued estimates for Shoe Carnival's Q2 2026 earnings at $0.55 EPS, Q3 2026 earnings at $0.50 EPS, FY2026 earnings at $1.75 EPS, FY2027 earnings at $1.46 EPS and FY2028 earnings at $2.56 EPS.

Shoe Carnival Price Performance

Shares of Shoe Carnival stock traded down $0.22 during trading hours on Tuesday, hitting $20.90. The company had a trading volume of 344,496 shares, compared to its average volume of 355,838. The company's 50-day moving average is $20.83 and its two-hundred day moving average is $20.46. Shoe Carnival has a twelve month low of $16.14 and a twelve month high of $46.92. The company has a market cap of $571.41 million, a P/E ratio of 8.74 and a beta of 1.46.

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

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a dividend of $0.15 per share. The ex-dividend date was Monday, July 7th. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. Shoe Carnival's payout ratio is presently 25.10%.

Hedge Funds Weigh In On Shoe Carnival

A number of institutional investors have recently modified their holdings of the company. NBC Securities Inc. grew its holdings in Shoe Carnival by 145,700.0% in 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 period. Versant Capital Management Inc purchased a new stake in Shoe Carnival during the first quarter worth approximately $33,000. First Horizon Advisors Inc. increased its position in shares of Shoe Carnival by 33.8% in the second quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company's stock worth $36,000 after acquiring an additional 486 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Shoe Carnival by 404.0% in the first quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock worth $55,000 after acquiring an additional 2,012 shares in the last quarter. Finally, CWM LLC increased its position in shares of Shoe Carnival by 188.3% in the first quarter. CWM LLC now owns 3,883 shares of the company's stock worth $85,000 after acquiring an additional 2,536 shares in the last quarter. Institutional investors and hedge funds own 66.05% of the company's stock.

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.