Shoe Carnival (NASDAQ:SCVL) Stock Rating Lowered by Zacks Research

Key Points

• Shoe Carnival has been downgraded by Zacks Research from a "hold" to a "strong sell" rating, highlighting concerns about the company's performance.
• Despite beating earnings expectations with an EPS of $0.34 for the latest quarter, Shoe Carnival experienced a 7.6% decrease in year-over-year revenue.
• Institutional investors now hold 66.05% of Shoe Carnival's stock, with notable increases in holdings from firms like GAMMA Investing LLC and Barclays PLC.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Seaport Res Ptn lowered Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Shoe Carnival currently has a consensus rating of "Hold" and an average target price of $51.00.

Shoe Carnival Stock Performance

Shares of SCVL stock opened at $21.99 on Tuesday. The stock's fifty day moving average is $20.76 and its 200-day moving average is $20.52. The stock has a market capitalization of $601.21 million, a PE ratio of 9.20 and a beta of 1.46. Shoe Carnival has a 52 week low of $16.14 and a 52 week high of $46.92.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last announced its quarterly earnings data on Friday, May 30th. The company reported $0.34 EPS 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 analyst estimates of $285.16 million. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The company's revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. Shoe Carnival has set its FY 2025 guidance at 1.600-2.10 EPS. As a group, analysts forecast that Shoe Carnival will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Shoe Carnival by 404.0% during the first quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock worth $55,000 after buying an additional 2,012 shares during the last quarter. Barclays PLC lifted its holdings in shares of Shoe Carnival by 13.8% during the 4th quarter. Barclays PLC now owns 34,533 shares of the company's stock valued at $1,143,000 after purchasing an additional 4,191 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Shoe Carnival by 309.3% during the 1st quarter. SG Americas Securities LLC now owns 22,026 shares of the company's stock valued at $484,000 after purchasing an additional 16,645 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Shoe Carnival during the 4th quarter valued at about $1,075,000. Finally, Northern Trust Corp lifted its holdings in shares of Shoe Carnival by 4.7% during the 4th quarter. Northern Trust Corp now owns 507,661 shares of the company's stock valued at $16,793,000 after purchasing an additional 22,859 shares in the last quarter. Institutional investors 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.

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