ValuEngine Downgrades Shoe Carnival (NASDAQ:SCVL) to Sell

ValuEngine lowered shares of Shoe Carnival (NASDAQ:SCVL) from a hold rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

SCVL has been the topic of a number of other research reports. Wedbush lowered their target price on shares of Shoe Carnival from $44.00 to $25.00 and set an outperform rating on the stock in a research note on Thursday, March 26th. BidaskClub cut shares of Shoe Carnival from a sell rating to a strong sell rating in a research note on Thursday, March 5th. Susquehanna Bancshares reiterated a buy rating and issued a $26.00 price target on shares of Shoe Carnival in a research note on Wednesday, March 25th. Sidoti decreased their price target on shares of Shoe Carnival from $48.00 to $31.00 and set a buy rating on the stock in a research note on Friday, March 20th. Finally, Pivotal Research decreased their price target on shares of Shoe Carnival from $43.00 to $20.00 and set a buy rating on the stock in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Shoe Carnival currently has an average rating of Hold and a consensus target price of $28.00.

Shares of SCVL traded up $3.27 during trading hours on Thursday, reaching $18.13. 258,732 shares of the stock traded hands, compared to its average volume of 214,693. The company has a current ratio of 2.69, a quick ratio of 0.57 and a debt-to-equity ratio of 0.65. Shoe Carnival has a 52-week low of $12.56 and a 52-week high of $40.00. The company’s 50-day moving average price is $26.30 and its two-hundred day moving average price is $33.22. The company 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 released its earnings results on Wednesday, March 25th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Shoe Carnival had a net margin of 4.14% and a return on equity of 13.75%. The company had revenue of $239.88 million for the quarter, compared to analysts’ expectations of $237.97 million. During the same quarter in the previous year, the company earned $0.09 EPS. Shoe Carnival’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts forecast that Shoe Carnival will post 1.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Monday, April 6th will be issued a $0.085 dividend. The ex-dividend date is Friday, April 3rd. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.88%. Shoe Carnival’s dividend payout ratio (DPR) is presently 12.19%.

Several institutional investors have recently bought and sold shares of SCVL. NEXT Financial Group Inc increased its holdings in shares of 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 buying an additional 487 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Shoe Carnival by 38.9% in the 4th quarter. Bank of Montreal Can now owns 1,233 shares of the company’s stock worth $46,000 after buying an additional 345 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Shoe Carnival by 115.4% in the 4th quarter. Citigroup Inc. now owns 4,579 shares of the company’s stock worth $171,000 after buying an additional 2,453 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Shoe Carnival by 22.8% in the 1st quarter. State of Alaska Department of Revenue now owns 8,295 shares of the company’s stock worth $172,000 after buying an additional 1,540 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Shoe Carnival by 34.2% in the 4th quarter. Panagora Asset Management Inc. now owns 6,311 shares of the company’s stock worth $235,000 after buying an additional 1,609 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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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