Pivotal Research Analysts Give Shoe Carnival (SCVL) a $30.00 Price Target

Pivotal Research set a $30.00 target price on Shoe Carnival (NASDAQ:SCVL) in a report published on Wednesday morning. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on SCVL. Jefferies Group reissued a hold rating and set a $24.00 price target on shares of Shoe Carnival in a research note on Wednesday. BidaskClub raised Shoe Carnival from a sell rating to a hold rating in a research note on Friday, February 9th. Zacks Investment Research lowered Shoe Carnival from a buy rating to a hold rating in a research note on Wednesday, February 21st. Finally, Wedbush reaffirmed a buy rating and issued a $33.00 price objective (up from $27.00) on shares of Shoe Carnival in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $26.43.

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Shares of SCVL stock opened at $23.80 on Wednesday. Shoe Carnival has a 12 month low of $15.07 and a 12 month high of $28.38. The stock has a market cap of $403.45, a PE ratio of 15.97, a PEG ratio of 1.03 and a beta of 0.85.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Tuesday, March 27th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. Shoe Carnival had a return on equity of 8.02% and a net margin of 1.86%. The firm had revenue of $243.23 million for the quarter, compared to analyst estimates of $248.19 million. During the same period last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. sell-side analysts anticipate that Shoe Carnival will post 1.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 23rd. Investors of record on Monday, April 9th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, April 6th. Shoe Carnival’s dividend payout ratio is currently 20.13%.

Shoe Carnival declared that its board has approved a share buyback program on Tuesday, December 19th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its stake in shares of Shoe Carnival by 24.5% in the third quarter. California Public Employees Retirement System now owns 61,990 shares of the company’s stock worth $1,387,000 after acquiring an additional 12,190 shares during the period. Citadel Advisors LLC lifted its stake in shares of Shoe Carnival by 39.2% in the fourth quarter. Citadel Advisors LLC now owns 152,856 shares of the company’s stock worth $4,089,000 after acquiring an additional 43,054 shares during the period. OxFORD Asset Management LLP lifted its stake in shares of Shoe Carnival by 100.5% in the third quarter. OxFORD Asset Management LLP now owns 51,784 shares of the company’s stock worth $1,152,000 after acquiring an additional 25,952 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Shoe Carnival by 31.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 58,758 shares of the company’s stock worth $1,571,000 after acquiring an additional 14,034 shares during the period. Finally, KBC Group NV lifted its stake in shares of Shoe Carnival by 31.3% in the fourth quarter. KBC Group NV now owns 49,136 shares of the company’s stock worth $1,314,000 after acquiring an additional 11,700 shares during the period. 78.20% of the stock is currently owned by institutional investors.

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Shoe Carnival Company Profile

Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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