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B. Riley Weighs in on Shoe Carnival, Inc.’s Q1 2018 Earnings (SCVL)

Shoe Carnival, Inc. (NASDAQ:SCVL) – Equities research analysts at B. Riley decreased their Q1 2018 EPS estimates for Shoe Carnival in a research note issued on Wednesday, according to Zacks Investment Research. B. Riley analyst M. Kummetz now anticipates that the company will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.65. B. Riley has a “Neutral” rating and a $26.00 price objective on the stock. B. Riley also issued estimates for Shoe Carnival’s Q2 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.19 EPS, FY2018 earnings at $1.40 EPS, FY2019 earnings at $1.45 EPS and FY2020 earnings at $1.54 EPS.

SCVL has been the subject of several other reports. Jefferies Group LLC set a $26.00 price target on shares of Shoe Carnival and gave the company a “hold” rating in a research report on Friday, March 17th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Shoe Carnival in a research report on Monday, March 27th. Johnson Rice lowered shares of Shoe Carnival from a “buy” rating to an “accumulate” rating in a research report on Friday, March 24th. Finally, Zacks Investment Research raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.29.

Earnings History and Estimates for Shoe Carnival (NASDAQ:SCVL)

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Shoe Carnival (NASDAQ:SCVL) traded down 5.08% during mid-day trading on Thursday, reaching $21.68. 224,284 shares of the company’s stock were exchanged. Shoe Carnival has a one year low of $21.16 and a one year high of $31.79. The company’s 50-day moving average is $24.36 and its 200 day moving average is $26.06. The firm has a market capitalization of $383.56 million, a P/E ratio of 16.96 and a beta of 0.90.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, March 23rd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $234.20 million during the quarter, compared to analyst estimates of $234.89 million. Shoe Carnival had a net margin of 2.86% and a return on equity of 8.51%. Shoe Carnival’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Investors of record on Monday, April 10th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, April 6th. Shoe Carnival’s payout ratio is currently 18.30%.

Several institutional investors have recently made changes to their positions in SCVL. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Shoe Carnival by 859.2% in the third quarter. Acrospire Investment Management LLC now owns 6,350 shares of the company’s stock valued at $169,000 after buying an additional 5,688 shares during the period. JPMorgan Chase & Co. increased its position in shares of Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock valued at $186,000 after buying an additional 6,260 shares during the period. First Trust Advisors LP acquired a new position in shares of Shoe Carnival during the third quarter valued at $205,000. Finally, State of Tennessee Treasury Department acquired a new position in shares of Shoe Carnival during the third quarter valued at $307,000. 68.46% of the stock is owned by hedge funds and other institutional investors.

About Shoe Carnival

Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

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