Seaport Res Ptn Downgrades Shoe Carnival (NASDAQ:SCVL) to Hold

Shoe Carnival (NASDAQ:SCVL) was downgraded by stock analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports. Seaport Res Ptn also issued estimates for Shoe Carnival’s FY2027 earnings at $1.46 EPS.

Shoe Carnival Stock Up 3.2%

Shares of SCVL stock opened at $21.99 on Tuesday. The company’s fifty day simple moving average is $20.76 and its 200-day simple moving average is $20.52. The firm has a market cap of $601.21 million, a PE ratio of 9.20 and a beta of 1.46. Shoe Carnival has a 12 month low of $16.14 and a 12 month high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Friday, May 30th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. Shoe Carnival had a net margin of 5.58% and a return on equity of 10.43%. The firm had revenue of $277.72 million for the quarter, compared to analyst estimates of $285.16 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.600-2.10 EPS. On average, equities analysts predict that Shoe Carnival will post 2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Sector Pension Investment Board lifted its holdings in shares of Shoe Carnival by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 60,134 shares of the company’s stock worth $1,125,000 after acquiring an additional 4,135 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Shoe Carnival by 20.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 15,959 shares of the company’s stock valued at $298,000 after buying an additional 2,673 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Shoe Carnival by 972.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 28,146 shares of the company’s stock valued at $527,000 after buying an additional 25,522 shares during the last quarter. Wasatch Advisors LP raised its holdings in Shoe Carnival by 37.9% in the 2nd quarter. Wasatch Advisors LP now owns 366,653 shares of the company’s stock valued at $6,860,000 after buying an additional 100,832 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its holdings in Shoe Carnival by 38.2% in the 2nd quarter. Snowden Capital Advisors LLC now owns 18,728 shares of the company’s stock valued at $350,000 after buying an additional 5,179 shares during the last quarter. Institutional investors own 66.05% of the company’s stock.

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.