Shoe Carnival (NASDAQ:SCVL) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Shoe Carnival (NASDAQ:SCVL – Get Rating) posted its quarterly earnings results on Wednesday. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01, Fidelity Earnings reports. Shoe Carnival had a net margin of 11.64% and a return on equity of 38.92%. During the same quarter in the previous year, the company posted $1.51 EPS. Shoe Carnival updated its FY 2022 guidance to $3.95-$4.15 EPS.

Shares of SCVL stock traded down $0.46 on Thursday, hitting $26.03. The company’s stock had a trading volume of 1,184 shares, compared to its average volume of 299,648. Shoe Carnival has a fifty-two week low of $25.80 and a fifty-two week high of $46.21. The firm’s fifty day moving average price is $30.94 and its 200-day moving average price is $34.43. The stock has a market capitalization of $733.27 million, a price-to-earnings ratio of 4.90 and a beta of 1.39.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Monday, April 4th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, April 1st. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.07. Shoe Carnival’s payout ratio is presently 6.65%.

In related news, Director Andrea R. Guthrie sold 1,300 shares of Shoe Carnival stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $31.40, for a total value of $40,820.00. Following the completion of the sale, the director now owns 24,746 shares of the company’s stock, valued at approximately $777,024.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.00% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its position in Shoe Carnival by 54.3% during the 1st quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock worth $66,000 after acquiring an additional 802 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Shoe Carnival during the 1st quarter worth $118,000. Virtu Financial LLC acquired a new position in shares of Shoe Carnival during the fourth quarter valued at about $223,000. MetLife Investment Management LLC raised its position in shares of Shoe Carnival by 69.4% during the first quarter. MetLife Investment Management LLC now owns 10,388 shares of the company’s stock valued at $303,000 after buying an additional 4,256 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Shoe Carnival by 93.7% during the third quarter. American International Group Inc. now owns 11,076 shares of the company’s stock valued at $359,000 after buying an additional 5,358 shares during the last quarter. 64.18% of the stock is owned by hedge funds and other institutional investors.

SCVL has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Shoe Carnival in a report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research cut shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $41.00.

About Shoe Carnival (Get Rating)

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. As of January 29, 2022, it operated 372 stores in 35 states and Puerto Rico under the Shoe Carnival banner; and 21 locations across the Southeast under the Shoe Station banner.

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