Shoe Carnival (NASDAQ:SCVL – Get Free Report) posted its earnings results 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. The company had revenue of $319.90 million during the quarter, compared to analysts’ expectations of $321.03 million. Shoe Carnival had a net margin of 6.70% and a return on equity of 14.52%. Shoe Carnival’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS.
Shoe Carnival Stock Up 7.6 %
Shares of NASDAQ SCVL opened at $23.76 on Friday. The business’s 50 day moving average price is $23.34 and its 200 day moving average price is $23.20. The firm has a market cap of $650.07 million, a P/E 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.10. Shoe Carnival’s dividend payout ratio is currently 16.55%.
Institutional Investors Weigh In On Shoe Carnival
Analyst Ratings Changes
Several equities analysts have recently issued reports on SCVL shares. Monness Crespi & Hardt cut their price objective on shares of Shoe Carnival from $36.00 to $27.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com started coverage on shares of Shoe Carnival in a report on Thursday, October 5th. They issued a “hold” rating for the company.
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.
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