Shoe Carnival (NASDAQ:SCVL) Releases FY 2022 Earnings Guidance

Shoe Carnival (NASDAQ:SCVLGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $3.95-$4.15 for the period, compared to the consensus EPS estimate of $4.10. The company issued revenue guidance of $1.38 billion-$1.42 billion, compared to the consensus revenue estimate of $1.42 billion.

Several research firms have weighed in on SCVL. Monness Crespi & Hardt lowered their price objective on shares of Shoe Carnival to $40.00 and set a sector weight rating on the stock in a report on Thursday, May 19th. StockNews.com downgraded shares of Shoe Carnival from a buy rating to a hold rating in a report on Monday, May 30th. Finally, Zacks Investment Research upgraded shares of Shoe Carnival from a sell rating to a hold rating in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Shoe Carnival has a consensus rating of Hold and a consensus price target of $40.33.

SCVL traded down $0.09 during trading on Wednesday, hitting $27.66. 241,502 shares of the company traded hands, compared to its average volume of 328,387. The firm has a market cap of $779.15 million, a P/E ratio of 5.72 and a beta of 1.40. The stock’s fifty day moving average is $29.71 and its 200 day moving average is $33.14. Shoe Carnival has a one year low of $23.78 and a one year high of $46.21.

Shoe Carnival (NASDAQ:SCVLGet Rating) last issued its earnings results on Wednesday, May 18th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. The firm had revenue of $317.53 million during the quarter, compared to analyst estimates of $329.60 million. Shoe Carnival had a net margin of 10.50% and a return on equity of 32.77%. During the same quarter last year, the business earned $1.51 earnings per share. On average, research analysts anticipate that Shoe Carnival will post 3.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 4th were given a $0.09 dividend. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, April 1st. Shoe Carnival’s dividend payout ratio (DPR) is 7.42%.

In other news, Director Andrea R. Guthrie sold 1,300 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 24,746 shares in the company, valued at $777,024.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in Shoe Carnival by 129.5% in the first quarter. Bank of America Corp DE now owns 39,890 shares of the company’s stock valued at $1,163,000 after purchasing an additional 22,510 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Shoe Carnival in the first quarter valued at approximately $118,000. Royal Bank of Canada raised its stake in shares of Shoe Carnival by 20.2% during the first quarter. Royal Bank of Canada now owns 27,779 shares of the company’s stock worth $810,000 after acquiring an additional 4,674 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Shoe Carnival by 11.1% during the first quarter. Guggenheim Capital LLC now owns 12,426 shares of the company’s stock worth $362,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Shoe Carnival by 21.8% during the first quarter. Goldman Sachs Group Inc. now owns 97,562 shares of the company’s stock worth $2,845,000 after acquiring an additional 17,452 shares in the last quarter. 64.18% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also

Earnings History and Estimates for Shoe Carnival (NASDAQ:SCVL)

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