Shoe Carnival (NASDAQ:SCVL) Shares Gap Up After Strong Earnings

Shoe Carnival, Inc. (NASDAQ:SCVL) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $21.53, but opened at $25.00. Shoe Carnival shares last traded at $24.92, with a volume of 388,383 shares traded.

The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Shoe Carnival had a return on equity of 10.43% and a net margin of 5.58%.The firm had revenue of $306.39 million during the quarter, compared to analysts’ expectations of $318.31 million. During the same period in the prior year, the business earned $0.83 EPS. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. Shoe Carnival has set its FY 2025 guidance at 1.700-2.10 EPS.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a $0.15 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. Shoe Carnival’s payout ratio is currently 25.10%.

Analysts Set New Price Targets

Several research analysts have recently commented on SCVL shares. Wall Street Zen downgraded Shoe Carnival from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Zacks Research downgraded Shoe Carnival from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 26th. Finally, Seaport Res Ptn downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Institutional Trading of Shoe Carnival

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its position in shares of Shoe Carnival by 76.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,132 shares of the company’s stock valued at $412,000 after buying an additional 5,267 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Shoe Carnival by 17.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the company’s stock valued at $225,000 after buying an additional 987 shares during the period. Voya Investment Management LLC increased its position in shares of Shoe Carnival by 66.6% during the fourth quarter. Voya Investment Management LLC now owns 10,296 shares of the company’s stock valued at $341,000 after buying an additional 4,116 shares during the period. Northern Trust Corp increased its position in shares of Shoe Carnival by 4.7% during the fourth quarter. Northern Trust Corp now owns 507,661 shares of the company’s stock valued at $16,793,000 after buying an additional 22,859 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Shoe Carnival by 148.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 14,900 shares of the company’s stock valued at $493,000 after buying an additional 8,900 shares during the period. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Shoe Carnival Stock Up 20.3%

The firm’s 50-day moving average is $21.11 and its 200-day moving average is $20.40. The company has a market cap of $707.83 million, a PE ratio of 10.83 and a beta of 1.35.

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.