Shoe Carnival, Inc. (NASDAQ:SCVL) Given Average Recommendation of “Hold” by Brokerages

Shoe Carnival, Inc. (NASDAQ:SCVL) has been given an average recommendation of “Hold” by the three analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation.

SCVL has been the subject of a number of analyst reports. Wall Street Zen upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Monday, December 29th. Finally, Zacks Research cut shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th.

Institutional Investors Weigh In On Shoe Carnival

Several hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC increased its position in shares of Shoe Carnival by 99.6% in the first quarter. Voya Investment Management LLC now owns 20,547 shares of the company’s stock worth $452,000 after purchasing an additional 10,251 shares during the period. Exchange Traded Concepts LLC grew its stake in Shoe Carnival by 31.8% during the second quarter. Exchange Traded Concepts LLC now owns 63,123 shares of the company’s stock worth $1,181,000 after buying an additional 15,241 shares in the last quarter. Copeland Capital Management LLC grew its stake in Shoe Carnival by 22.8% during the second quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock worth $32,146,000 after buying an additional 318,771 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Shoe Carnival by 51.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 642,771 shares of the company’s stock valued at $12,026,000 after buying an additional 219,443 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Shoe Carnival by 28.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 214,283 shares of the company’s stock valued at $4,009,000 after buying an additional 46,884 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Shoe Carnival Trading Up 2.6%

Shoe Carnival stock opened at $19.19 on Friday. Shoe Carnival has a 1-year low of $15.21 and a 1-year high of $31.36. The company has a fifty day simple moving average of $17.65 and a 200 day simple moving average of $19.86. The company has a market cap of $525.42 million, a P/E ratio of 9.14 and a beta of 1.31.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, November 20th. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The company had revenue of $297.16 million during the quarter, compared to the consensus estimate of $295.25 million. Shoe Carnival had a net margin of 5.06% and a return on equity of 8.75%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. On average, equities research analysts forecast that Shoe Carnival will post 2.6 EPS for the current year.

Shoe Carnival Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Monday, January 12th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, January 12th. Shoe Carnival’s dividend payout ratio (DPR) is 28.57%.

Shoe Carnival declared that its board has authorized a stock repurchase program on Friday, December 12th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Shoe Carnival Company Profile

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.