Shoe Carnival (NASDAQ:SCVL) Releases FY 2024 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.550-2.750 for the period, compared to the consensus estimate of 2.630. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Monness Crespi & Hardt cut shares of Shoe Carnival from a buy rating to a neutral rating in a research note on Tuesday, March 19th. Williams Trading raised shares of Shoe Carnival from a hold rating to a buy rating and set a $40.00 price target on the stock in a report on Friday, March 22nd.

Shoe Carnival Trading Up 5.5 %

Shares of NASDAQ:SCVL opened at $36.29 on Friday. Shoe Carnival has a 12-month low of $19.24 and a 12-month high of $37.08. The business has a 50 day moving average of $34.50 and a two-hundred day moving average of $29.96. The company has a market capitalization of $985.64 million, a PE ratio of 13.54 and a beta of 1.57.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, March 21st. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. Shoe Carnival had a net margin of 6.24% and a return on equity of 13.17%. The firm had revenue of $280.20 million during the quarter, compared to analysts’ expectations of $280.30 million. During the same period in the previous year, the business posted $0.79 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that Shoe Carnival will post 2.65 earnings per share for the current fiscal year.

Shoe Carnival Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 1.49%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, April 5th. Shoe Carnival’s payout ratio is presently 20.15%.

Insider Activity

In other news, EVP Carl N. Scibetta sold 5,415 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total transaction of $191,961.75. Following the completion of the sale, the executive vice president now owns 118,077 shares in the company, valued at approximately $4,185,829.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,467 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $32.46, for a total value of $80,078.82. Following the transaction, the director now owns 20,106 shares of the company’s stock, valued at $652,640.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carl N. Scibetta sold 5,415 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the sale, the executive vice president now directly owns 118,077 shares in the company, valued at approximately $4,185,829.65. The disclosure for this sale can be found here. Corporate insiders own 34.70% 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 operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.