Shoe Carnival (NASDAQ:SCVL) Upgraded at Zacks Research

Zacks Research upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a strong sell rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

SCVL has been the subject of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Shoe Carnival in a research report on Wednesday, October 8th. Seaport Res Ptn lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Shoe Carnival has a consensus rating of “Moderate Buy”.

Shoe Carnival Stock Performance

Shares of NASDAQ:SCVL opened at $18.61 on Monday. The stock has a market capitalization of $509.36 million, a price-to-earnings ratio of 8.20 and a beta of 1.37. Shoe Carnival has a 1-year low of $16.14 and a 1-year high of $39.29. The company’s fifty day moving average is $21.43 and its two-hundred day moving average is $20.28.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, September 4th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. The business had revenue of $306.39 million for the quarter, compared to analysts’ expectations of $318.31 million. During the same quarter last year, the company 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. Sell-side analysts expect that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Shoe Carnival Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Monday, October 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, October 6th. Shoe Carnival’s payout ratio is presently 26.43%.

Insiders Place Their Bets

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,477 shares of Shoe Carnival stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $20.20, for a total value of $50,035.40. Following the completion of the sale, the director directly owned 24,405 shares in the company, valued at approximately $492,981. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 35.50% of the company’s stock.

Institutional Investors Weigh In On Shoe Carnival

A number of hedge funds have recently added to or reduced their stakes in SCVL. New South Capital Management Inc. grew its stake in Shoe Carnival by 189.9% in the first quarter. New South Capital Management Inc. now owns 699,824 shares of the company’s stock valued at $15,389,000 after acquiring an additional 458,412 shares during the period. Copeland Capital Management LLC grew its stake in Shoe Carnival by 22.8% in the second quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock valued at $32,146,000 after acquiring an additional 318,771 shares during the period. ProShare Advisors LLC acquired a new stake in Shoe Carnival in the second quarter valued at approximately $5,809,000. Pacer Advisors Inc. acquired a new stake in Shoe Carnival in the first quarter valued at approximately $4,936,000. Finally, Millennium Management LLC grew its stake in Shoe Carnival by 215.9% in the first quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock valued at $7,076,000 after acquiring an additional 219,918 shares during the period. Institutional investors and hedge funds 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.