Shoe Carnival (NASDAQ:SCVL) Issues Earnings Results

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

Shoe Carnival Stock Performance

Shares of SCVL opened at $23.76 on Friday. The stock has a fifty day moving average price of $23.34 and a two-hundred day moving average price of $23.20. The company has a market cap of $650.07 million, a price-to-earnings ratio of 8.19 and a beta of 1.47. 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 declared a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.02%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, October 2nd. Shoe Carnival’s dividend payout ratio (DPR) is currently 16.55%.

Institutional Trading of Shoe Carnival

A number of hedge funds and other institutional investors have recently made changes to their positions in SCVL. Advisory Services Network LLC grew its holdings in Shoe Carnival by 124.8% during the 1st 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. Allworth Financial LP raised its position in Shoe Carnival by 146.4% in the 2nd quarter. Allworth Financial LP now owns 1,683 shares of the company’s stock worth $40,000 after purchasing an additional 1,000 shares during the last quarter. NBC Securities Inc. bought a new position in Shoe Carnival in the 3rd quarter valued at $44,000. Captrust Financial Advisors increased its stake in shares of Shoe Carnival by 54.3% in the 1st quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock valued at $66,000 after buying an additional 802 shares during the period. Finally, CWM LLC raised its position in shares of Shoe Carnival by 87.4% during the second quarter. CWM LLC now owns 2,961 shares of the company’s stock worth $70,000 after acquiring an additional 1,381 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com began coverage on Shoe Carnival in a research note on Thursday, October 5th. They set a “hold” rating for the company. Monness Crespi & Hardt cut their price target on shares of Shoe Carnival from $36.00 to $27.00 and set a “buy” rating for the company in a report on Friday.

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.