Shoe Carnival (NASDAQ:SCVL) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Shoe Carnival (NASDAQ:SCVL) from a "hold" to a "sell" rating, indicating a shift in analyst sentiment towards the company's stock.
• Recently, other analysts have also cut their ratings, with Zacks Research reducing it to a "strong sell" and Seaport Res Ptn to a "hold", suggesting a **consensus rating** of "Reduce".
• Shoe Carnival reported earnings of $0.34 per share, exceeding expectations, but with a year-over-year revenue decline of 7.6%, highlighting ongoing challenges for the retailer.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the company. Seaport Res Ptn downgraded Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Zacks Research downgraded Shoe Carnival from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Shoe Carnival currently has an average rating of "Reduce".

Shoe Carnival Stock Performance

NASDAQ SCVL traded up $4.36 during trading hours on Friday, hitting $25.89. The company had a trading volume of 1,669,475 shares, compared to its average volume of 349,365. The firm has a market capitalization of $707.83 million, a price-to-earnings ratio of 10.83 and a beta of 1.35. The firm has a 50 day simple moving average of $21.11 and a 200 day simple moving average of $20.40. 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 issued its quarterly earnings results on Thursday, September 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. The firm had revenue of $306.39 million during the quarter, compared to the consensus estimate of $318.31 million. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The company's revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.83 EPS. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. On average, research analysts forecast that Shoe Carnival will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. grew its stake in Shoe Carnival by 145,700.0% during the 1st quarter. NBC Securities Inc. now owns 1,458 shares of the company's stock worth $32,000 after buying an additional 1,457 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Shoe Carnival in the 1st quarter valued at about $33,000. First Horizon Advisors Inc. lifted its holdings in shares of Shoe Carnival by 33.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,923 shares of the company's stock valued at $36,000 after buying an additional 486 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Shoe Carnival by 404.0% in the 1st quarter. GAMMA Investing LLC now owns 2,510 shares of the company's stock valued at $55,000 after buying an additional 2,012 shares during the period. Finally, CWM LLC lifted its holdings in shares of Shoe Carnival by 188.3% in the 1st quarter. CWM LLC now owns 3,883 shares of the company's stock valued at $85,000 after buying an additional 2,536 shares during the period. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

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.