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

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

A number of other equities analysts have also commented on SCVL. Zacks Investment Research raised Shoe Carnival from a strong sell rating to a hold rating in a research note on Saturday, May 16th. Sidoti dropped their price target on Shoe Carnival from $48.00 to $31.00 and set a buy rating for the company in a research note on Friday, March 20th. Wedbush dropped their price target on Shoe Carnival from $44.00 to $25.00 and set an outperform rating for the company in a research note on Thursday, March 26th. Pivotal Research dropped their price target on Shoe Carnival from $43.00 to $20.00 and set a buy rating for the company in a research note on Monday, March 23rd. Finally, ValuEngine raised Shoe Carnival from a sell rating to a hold rating in a research note on Wednesday, April 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $34.40.

Shares of NASDAQ:SCVL traded up $0.04 during trading on Wednesday, hitting $25.45. 203,764 shares of the company’s stock were exchanged, compared to its average volume of 228,168. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.23 and a quick ratio of 0.57. Shoe Carnival has a 52-week low of $12.56 and a 52-week high of $40.00. The business’s 50-day simple moving average is $21.13 and its 200 day simple moving average is $30.54. The company has a market cap of $358.12 million, a price-to-earnings ratio of 31.04 and a beta of 1.24.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Wednesday, May 20th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.19). Shoe Carnival had a return on equity of 4.35% and a net margin of 1.38%. The business had revenue of $147.50 million for the quarter, compared to analysts’ expectations of $140.42 million. During the same quarter in the prior year, the business posted $0.78 EPS. The business’s revenue for the quarter was down 41.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Shoe Carnival will post 0.15 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Shoe Carnival by 22.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 459,629 shares of the company’s stock valued at $17,135,000 after purchasing an additional 83,046 shares during the last quarter. State Street Corp lifted its stake in shares of Shoe Carnival by 4.2% in the 1st quarter. State Street Corp now owns 360,616 shares of the company’s stock valued at $7,490,000 after purchasing an additional 14,420 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Shoe Carnival by 1.3% in the 1st quarter. Nuveen Asset Management LLC now owns 264,989 shares of the company’s stock valued at $5,504,000 after purchasing an additional 3,517 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Shoe Carnival by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 197,771 shares of the company’s stock valued at $7,372,000 after purchasing an additional 1,564 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new stake in shares of Shoe Carnival in the 1st quarter valued at approximately $3,782,000. 88.37% of the stock is owned by institutional investors and hedge funds.

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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