Shoe Carnival (NASDAQ:SCVL) Shares Pass Above 200 Day Moving Average – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SCVL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.63 and traded as high as $20.63. Shoe Carnival shares last traded at $20.32, with a volume of 292,225 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a research report on Monday, December 29th. Zacks Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Shoe Carnival currently has an average rating of “Hold”.

Shoe Carnival Price Performance

The business’s fifty day moving average price is $18.69 and its 200-day moving average price is $19.63. The stock has a market capitalization of $556.36 million, a PE ratio of 9.68 and a beta of 1.36.

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

Shoe Carnival Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 26th. Investors of record on Monday, January 12th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, January 12th. This represents a $0.60 annualized dividend and a yield of 3.0%. Shoe Carnival’s dividend payout ratio (DPR) is currently 28.57%.

Shoe Carnival announced that its board has initiated a stock buyback plan on Friday, December 12th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 9.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Shoe Carnival

Large investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in shares of Shoe Carnival by 13.0% in the first quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock worth $1,779,000 after purchasing an additional 9,298 shares during the last quarter. AQR Capital Management LLC grew its stake in Shoe Carnival by 367.2% in the 1st quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock worth $1,150,000 after buying an additional 41,108 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Shoe Carnival by 215.9% in the 1st quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after buying an additional 219,918 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Shoe Carnival by 3.0% in the 1st quarter. Empowered Funds LLC now owns 140,151 shares of the company’s stock worth $3,082,000 after buying an additional 4,108 shares during the last quarter. Finally, CWM LLC raised its position in shares of Shoe Carnival by 44.5% during the 2nd quarter. CWM LLC now owns 5,610 shares of the company’s stock valued at $105,000 after buying an additional 1,727 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.

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.