Shoe Carnival (NASDAQ:SCVL) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

SCVL has been the topic of a number of other reports. Zacks Investment Research raised shares of Shoe Carnival from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research note on Saturday, August 31st. ValuEngine raised shares of Shoe Carnival from a sell rating to a hold rating in a research note on Tuesday, September 10th. Susquehanna Bancshares set a $37.00 price objective on shares of Shoe Carnival and gave the company a buy rating in a research note on Tuesday, October 8th. Pivotal Research set a $31.00 price objective on shares of Shoe Carnival and gave the company a buy rating in a research note on Friday, August 23rd. Finally, Wedbush reissued an outperform rating on shares of Shoe Carnival in a research note on Thursday, August 29th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Shoe Carnival currently has an average rating of Buy and a consensus target price of $33.50.

Shares of NASDAQ:SCVL opened at $34.07 on Friday. The company’s 50 day simple moving average is $32.16 and its 200 day simple moving average is $29.70. The stock has a market capitalization of $488.13 million, a price-to-earnings ratio of 13.91 and a beta of 0.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.21 and a quick ratio of 0.29. Shoe Carnival has a 1 year low of $21.47 and a 1 year high of $43.75.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $268.22 million for the quarter, compared to analysts’ expectations of $268.62 million. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.32%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. As a group, analysts anticipate that Shoe Carnival will post 2.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.085 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.34 dividend on an annualized basis and a yield of 1.00%. Shoe Carnival’s dividend payout ratio is currently 13.88%.

In other Shoe Carnival news, Director Charles B. Tomm sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.49, for a total value of $235,920.00. Following the sale, the director now owns 13,039 shares in the company, valued at $384,520.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kent A. Kleeberger sold 1,090 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $28.68, for a total transaction of $31,261.20. Following the completion of the sale, the director now owns 15,054 shares in the company, valued at approximately $431,748.72. The disclosure for this sale can be found here. Company insiders own 23.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. United Services Automobile Association boosted its position in Shoe Carnival by 10.1% in the second quarter. United Services Automobile Association now owns 7,539 shares of the company’s stock valued at $208,000 after buying an additional 689 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Shoe Carnival by 11.6% during the second quarter. New York State Teachers Retirement System now owns 8,119 shares of the company’s stock worth $224,000 after purchasing an additional 841 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Shoe Carnival by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 185,925 shares of the company’s stock worth $5,132,000 after purchasing an additional 1,033 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Shoe Carnival by 17.0% during the second quarter. SG Americas Securities LLC now owns 10,874 shares of the company’s stock worth $300,000 after purchasing an additional 1,583 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Shoe Carnival by 6.9% during the second quarter. Royal Bank of Canada now owns 25,079 shares of the company’s stock worth $693,000 after purchasing an additional 1,627 shares during the period. Hedge funds and other institutional investors own 94.51% 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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