Shoe Carnival (NASDAQ:SCVL) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Shoe Carnival (NASDAQ:SCVL) issued its quarterly earnings data on Thursday. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.17), MarketWatch Earnings reports. Shoe Carnival had a net margin of 6.70% and a return on equity of 14.52%. The company had revenue of $319.90 million during the quarter, compared to analysts’ expectations of $321.03 million. During the same quarter in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year.

Shoe Carnival Trading Up 7.6 %

Shoe Carnival stock opened at $23.76 on Friday. The firm has a market capitalization of $650.07 million, a P/E ratio of 8.19 and a beta of 1.47. The stock has a fifty day moving average price of $23.34 and a 200 day moving average price of $23.20. Shoe Carnival has a 52 week low of $19.24 and a 52 week high of $29.47.

Shoe Carnival Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd were paid a $0.12 dividend. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, October 2nd. Shoe Carnival’s dividend payout ratio is presently 16.55%.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors have recently added to or reduced their stakes in SCVL. Great West Life Assurance Co. Can increased its stake in Shoe Carnival by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 15,494 shares of the company’s stock worth $463,000 after acquiring an additional 592 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in Shoe Carnival by 14.8% during the second quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock worth $101,000 after acquiring an additional 602 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Shoe Carnival by 1.0% during the second quarter. Russell Investments Group Ltd. now owns 65,767 shares of the company’s stock worth $1,544,000 after acquiring an additional 666 shares during the last quarter. Advisory Services Network LLC increased its stake in Shoe Carnival by 124.8% during the first quarter. Advisory Services Network LLC now owns 1,261 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Shoe Carnival by 54.3% during the first quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock worth $66,000 after acquiring an additional 802 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SCVL has been the topic of several recent research reports. StockNews.com initiated coverage on Shoe Carnival in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Monness Crespi & Hardt reduced their price objective on Shoe Carnival from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday.

About Shoe Carnival

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also sells its products through online shopping at shoecarnival.com, as well as through mobile application.