Shoe Carnival (NASDAQ:SCVL) Downgraded by ValuEngine

Shoe Carnival (NASDAQ:SCVL) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday, ValuEngine reports.

Several other research firms also recently weighed in on SCVL. Susquehanna Bancshares reiterated a “buy” rating and set a $26.00 price target on shares of Shoe Carnival in a research note on Wednesday, March 25th. BidaskClub downgraded Shoe Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 5th. Sidoti dropped their price target on Shoe Carnival from $48.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Pivotal Research decreased their price objective on Shoe Carnival from $43.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Wedbush decreased their price objective on Shoe Carnival from $44.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, March 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Shoe Carnival presently has a consensus rating of “Hold” and a consensus target price of $28.00.

SCVL stock traded up $3.27 on Thursday, hitting $18.13. 258,732 shares of the company’s stock were exchanged, compared to its average volume of 214,693. Shoe Carnival has a 12-month low of $12.56 and a 12-month high of $40.00. The firm has a 50 day moving average price of $26.30 and a two-hundred day moving average price of $33.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.57 and a current ratio of 2.69. The stock has a market cap of $210.86 million, a P/E ratio of 6.27 and a beta of 1.26.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business had revenue of $239.88 million for the quarter, compared to the consensus estimate of $237.97 million. Shoe Carnival had a return on equity of 13.75% and a net margin of 4.14%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. Sell-side analysts expect that Shoe Carnival will post 1.75 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of SCVL. Voya Investment Management LLC grew its holdings in shares of Shoe Carnival by 978.1% during the third quarter. Voya Investment Management LLC now owns 225,801 shares of the company’s stock worth $7,318,000 after purchasing an additional 204,856 shares during the last quarter. 6 Meridian raised its position in shares of Shoe Carnival by 9.4% during the 4th quarter. 6 Meridian now owns 10,203 shares of the company’s stock worth $380,000 after purchasing an additional 877 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Shoe Carnival by 21.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 30,314 shares of the company’s stock worth $1,130,000 after acquiring an additional 5,369 shares during the period. NEXT Financial Group Inc grew its stake in Shoe Carnival by 200.4% in the 4th quarter. NEXT Financial Group Inc now owns 730 shares of the company’s stock worth $27,000 after acquiring an additional 487 shares during the period. Finally, New York State Teachers Retirement System grew its stake in shares of Shoe Carnival by 118.8% during the 4th quarter. New York State Teachers Retirement System now owns 13,759 shares of the company’s stock valued at $513,000 after buying an additional 7,471 shares during the period. Institutional investors own 90.77% 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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