Shoe Carnival (NASDAQ:SCVL – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.54-0.64 for the period, compared to the consensus earnings per share estimate of $0.74. The company issued revenue guidance of $265-285 million, compared to the consensus revenue estimate of $290.27 million. Shoe Carnival also updated its FY 2023 guidance to $2.65-$2.75 EPS.
Analyst Ratings Changes
Separately, StockNews.com started coverage on Shoe Carnival in a report on Thursday, October 5th. They issued a hold rating on the stock.
Shoe Carnival Stock Up 2.8 %
Shoe Carnival (NASDAQ:SCVL – Get Free Report) last posted its quarterly earnings data on Tuesday, August 29th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.10). Shoe Carnival had a return on equity of 16.99% and a net margin of 7.47%. The firm had revenue of $294.62 million during the quarter, compared to analyst estimates of $286.89 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Equities research analysts anticipate that Shoe Carnival will post 3.17 EPS for the current fiscal year.
Shoe Carnival Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.99%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, October 2nd. Shoe Carnival’s payout ratio is presently 14.63%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC raised its position in shares of Shoe Carnival by 364.2% in the third quarter. Citadel Advisors LLC now owns 461,581 shares of the company’s stock valued at $9,896,000 after buying an additional 362,138 shares during the last quarter. Wasatch Advisors LP acquired a new stake in Shoe Carnival in the 1st quarter valued at about $7,677,000. Millennium Management LLC raised its holdings in Shoe Carnival by 38.8% in the 4th quarter. Millennium Management LLC now owns 630,822 shares of the company’s stock valued at $15,083,000 after acquiring an additional 176,202 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Shoe Carnival by 277.1% during the 2nd quarter. Renaissance Technologies LLC now owns 186,968 shares of the company’s stock worth $4,040,000 after purchasing an additional 137,393 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Shoe Carnival by 271.8% in the second quarter. Public Employees Retirement System of Ohio now owns 177,997 shares of the company’s stock valued at $4,179,000 after purchasing an additional 130,124 shares in the last quarter. Hedge funds and other institutional investors own 66.05% 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 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.
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