Shoe Carnival (NASDAQ:SCVL) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Shoe Carnival (NASDAQ:SCVL) from a hold rating to a sell rating in a report published on Friday morning.

Separately, Williams Trading boosted their target price on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

Shoe Carnival Trading Up 0.1 %

SCVL opened at $33.90 on Friday. Shoe Carnival has a 1-year low of $22.75 and a 1-year high of $46.92. The company has a current ratio of 3.88, a quick ratio of 0.70 and a debt-to-equity ratio of 0.50. The company has a market cap of $921.06 million, a P/E ratio of 12.46 and a beta of 1.56. The company has a fifty day moving average price of $38.78 and a two-hundred day moving average price of $38.71.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.45 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. Analysts predict that Shoe Carnival will post 2.67 EPS for the current fiscal year.

Shoe Carnival Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s payout ratio is presently 19.85%.

Institutional Investors Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Shoe Carnival by 189.7% during the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock worth $1,330,000 after purchasing an additional 19,868 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Shoe Carnival by 2.4% during the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock worth $19,848,000 after purchasing an additional 10,761 shares during the last quarter. XTX Topco Ltd purchased a new position in Shoe Carnival during the third quarter worth about $296,000. State Street Corp boosted its holdings in Shoe Carnival by 2.2% during the third quarter. State Street Corp now owns 793,318 shares of the company’s stock worth $34,787,000 after purchasing an additional 17,086 shares during the last quarter. Finally, Quarry LP purchased a new position in Shoe Carnival during the third quarter worth about $66,000. 66.05% of the stock is owned by institutional investors.

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 operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.