Shoe Carnival, Inc. (NASDAQ:SCVL) Receives $38.00 Consensus Target Price from Brokerages

Shoe Carnival, Inc. (NASDAQ:SCVL) has earned an average rating of “Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.50.

SCVL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research report on Thursday, May 30th. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Wedbush set a $69.00 price objective on shares of Albireo Pharma and gave the company a “buy” rating in a research report on Thursday, May 23rd. Pivotal Research reissued a “hold” rating and set a $33.00 price objective (down previously from $37.00) on shares of DISH Network in a research report on Monday, May 20th. Finally, Sidoti raised shares of Shoe Carnival from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. They noted that the move was a valuation call.

SCVL traded down $0.14 during mid-day trading on Friday, reaching $26.86. 330,345 shares of the company traded hands, compared to its average volume of 333,324. The firm has a market cap of $396.65 million, a PE ratio of 10.96 and a beta of 1.05. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.66 and a quick ratio of 0.28. The stock’s fifty day moving average is $27.03. Shoe Carnival has a 52-week low of $23.98 and a 52-week high of $45.00.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Wednesday, May 22nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.06). Shoe Carnival had a net margin of 3.81% and a return on equity of 12.20%. The company had revenue of $253.80 million for the quarter, compared to analysts’ expectations of $259.24 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Shoe Carnival’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts forecast that Shoe Carnival will post 2.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a $0.085 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.34 annualized dividend and a yield of 1.27%. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.08. Shoe Carnival’s dividend payout ratio is currently 13.88%.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. boosted its holdings in Shoe Carnival by 1,066.1% in the 4th quarter. Advisor Group Inc. now owns 2,134 shares of the company’s stock worth $71,000 after buying an additional 1,951 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Shoe Carnival by 232.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,044 shares of the company’s stock worth $102,000 after buying an additional 2,128 shares during the period. Oregon Public Employees Retirement Fund bought a new position in Shoe Carnival in the 4th quarter worth $128,000. QS Investors LLC boosted its holdings in Shoe Carnival by 224.0% in the 4th quarter. QS Investors LLC now owns 4,050 shares of the company’s stock worth $136,000 after buying an additional 2,800 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in Shoe Carnival by 11.6% in the 2nd quarter. New York State Teachers Retirement System now owns 8,119 shares of the company’s stock worth $224,000 after buying an additional 841 shares during the period. 97.54% of the stock is owned by 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 various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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