Shoe Carnival (SCVL) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

Other research analysts have also recently issued research reports about the company. Wedbush boosted their price objective on Shoe Carnival from $38.00 to $44.00 and gave the stock an outperform rating in a research report on Wednesday, August 29th. Zacks Investment Research cut Shoe Carnival from a strong-buy rating to a hold rating in a research report on Thursday, July 26th. Citigroup cut Shoe Carnival from a buy rating to a neutral rating and set a $32.00 price objective on the stock. in a research report on Thursday, July 19th. They noted that the move was a valuation call. Pivotal Research boosted their price objective on Shoe Carnival from $39.00 to $43.00 and gave the stock a buy rating in a research report on Tuesday, September 4th. Finally, Susquehanna Bancshares reissued a neutral rating on shares of Shoe Carnival in a research report on Thursday, July 19th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $35.17.

SCVL stock opened at $39.46 on Tuesday. Shoe Carnival has a 1-year low of $17.94 and a 1-year high of $45.00. The firm has a market capitalization of $619.43 million, a price-to-earnings ratio of 26.17 and a beta of 0.91.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Tuesday, August 28th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.20. Shoe Carnival had a return on equity of 12.06% and a net margin of 2.98%. The business had revenue of $268.37 million for the quarter, compared to analysts’ expectations of $265.16 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. As a group, equities analysts expect that Shoe Carnival will post 2.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 22nd. Shareholders of record on Monday, October 8th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.32 annualized dividend and a yield of 0.81%. Shoe Carnival’s dividend payout ratio is currently 21.48%.

In other Shoe Carnival news, Director Kent A. Kleeberger sold 2,172 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $44.11, for a total value of $95,806.92. Following the sale, the director now directly owns 16,460 shares in the company, valued at $726,050.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. 22.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SCVL. WINTON GROUP Ltd raised its stake in shares of Shoe Carnival by 333.6% in the first quarter. WINTON GROUP Ltd now owns 182,818 shares of the company’s stock valued at $4,351,000 after buying an additional 140,656 shares during the period. Citadel Advisors LLC raised its stake in shares of Shoe Carnival by 110.9% in the second quarter. Citadel Advisors LLC now owns 256,079 shares of the company’s stock valued at $8,310,000 after buying an additional 134,651 shares during the period. BlackRock Inc. raised its stake in shares of Shoe Carnival by 7.3% in the second quarter. BlackRock Inc. now owns 1,648,258 shares of the company’s stock valued at $53,485,000 after buying an additional 112,623 shares during the period. American Century Companies Inc. bought a new stake in shares of Shoe Carnival in the second quarter valued at $2,088,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Shoe Carnival by 77.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 132,700 shares of the company’s stock valued at $4,306,000 after buying an additional 57,900 shares during the period. Hedge funds and other institutional investors own 79.13% 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 various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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