Weiss Ratings Reiterates "Hold (C)" Rating for Shoe Carnival (NASDAQ:SCVL)

Key Points

• Weiss Ratings has reaffirmed its "hold (C)" rating for Shoe Carnival (NASDAQ:SCVL), while other analysts have varied in their ratings, indicating a consensus rating of "Reduce."
• Shoe Carnival's stock was up 2.2%, with the current market cap at $569.84 million and a 52-week price range of $16.14 to $40.62.
• The company's recent quarterly earnings of $0.70 per share exceeded expectations, although revenues declined 7.9% compared to the previous year.

Shoe Carnival (NASDAQ:SCVL - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

SCVL has been the subject of several other reports. Seaport Res Ptn downgraded Shoe Carnival from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Zacks Research downgraded Shoe Carnival from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised Shoe Carnival from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Shoe Carnival currently has a consensus rating of "Reduce".

Shoe Carnival Stock Up 2.2%

SCVL opened at $20.82 on Wednesday. The business has a 50 day moving average price of $21.74 and a two-hundred day moving average price of $20.42. The company has a market cap of $569.84 million, a PE ratio of 9.17 and a beta of 1.37. Shoe Carnival has a 52 week low of $16.14 and a 52 week high of $40.62.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $318.31 million. Shoe Carnival had a return on equity of 9.65% and a net margin of 5.41%.The firm's revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS. As a group, sell-side analysts expect that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC grew its holdings 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 acquiring an additional 318,771 shares during the period. New South Capital Management Inc. grew 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 period. Arrowstreet Capital Limited Partnership grew 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 period. American Century Companies Inc. grew 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 period. Finally, Northern Trust Corp grew 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 period. 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.

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