Shoe Carnival (NASDAQ:SCVL) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a strong sell rating to a sell rating in a report released on Wednesday, BidAskClub reports.

Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Shoe Carnival from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Wedbush restated an outperform rating and set a $47.00 price target on shares of Shoe Carnival in a research report on Thursday, May 23rd. Pivotal Research restated a buy rating and set a $38.00 price target (down from $42.00) on shares of Shoe Carnival in a research report on Monday, May 20th. Finally, Zacks Investment Research downgraded shares of Shoe Carnival from a buy rating to a hold rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $35.75.

Shares of NASDAQ:SCVL opened at $23.85 on Wednesday. The company has a market cap of $377.40 million, a PE ratio of 10.75 and a beta of 1.00. The company’s 50-day moving average price is $25.65 and its 200 day moving average price is $30.78. Shoe Carnival has a fifty-two week low of $21.47 and a fifty-two week high of $45.00. The company has a quick ratio of 0.28, a current ratio of 2.66 and a debt-to-equity ratio of 0.69.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.06). The firm had revenue of $253.80 million during the quarter, compared to the consensus estimate of $259.24 million. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.20%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. As a group, equities analysts anticipate that Shoe Carnival will post 2.64 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC bought a new stake in shares of Shoe Carnival during the 1st quarter worth about $225,000. Virtu Financial LLC acquired a new position in shares of Shoe Carnival in the 1st quarter worth approximately $231,000. BNP Paribas Arbitrage SA grew its stake in shares of Shoe Carnival by 39.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,403 shares of the company’s stock worth $252,000 after purchasing an additional 2,098 shares during the last quarter. United Services Automobile Association grew its stake in shares of Shoe Carnival by 10.1% in the 2nd quarter. United Services Automobile Association now owns 7,539 shares of the company’s stock worth $208,000 after purchasing an additional 689 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in shares of Shoe Carnival in the 1st quarter worth approximately $272,000. Institutional investors own 98.20% of the company’s stock.

Shoe Carnival Company Profile

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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