Analysts expect that Shoe Carnival, Inc. (NASDAQ:SCVL) will announce $258.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Shoe Carnival’s earnings. The highest sales estimate is $263 million and the lowest is $254.76 million. Shoe Carnival reported sales of $260.47 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The company is expected to report its next earnings results after the market closes on Thursday, May 25th.
According to Zacks, analysts expect that Shoe Carnival will report full-year sales of $258.88 million for the current fiscal year, with estimates ranging from $1.02 billion to $1.03 billion. For the next year, analysts anticipate that the company will post sales of $1.03 billion per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Shoe Carnival.
Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, March 23rd. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. The firm had revenue of $234.20 million for the quarter, compared to the consensus estimate of $234.89 million. Shoe Carnival had a return on equity of 8.51% and a net margin of 2.86%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS.
Several brokerages recently issued reports on SCVL. B. Riley reiterated a “neutral” rating and issued a $26.00 target price on shares of Shoe Carnival in a research report on Wednesday, May 3rd. Zacks Investment Research lowered shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Jefferies Group LLC reiterated a “hold” rating and issued a $26.00 target price on shares of Shoe Carnival in a research report on Friday, March 24th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $24.00 target price on shares of Shoe Carnival in a research report on Monday, March 27th. Finally, Johnson Rice lowered shares of Shoe Carnival from a “buy” rating to an “accumulate” rating in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.29.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Shoe Carnival by 113.2% in the third quarter. Bank of New York Mellon Corp now owns 211,104 shares of the company’s stock valued at $5,628,000 after buying an additional 112,088 shares during the last quarter. Prudential Financial Inc. raised its stake in Shoe Carnival by 38.7% in the third quarter. Prudential Financial Inc. now owns 33,749 shares of the company’s stock valued at $900,000 after buying an additional 9,420 shares during the last quarter. State Street Corp raised its stake in Shoe Carnival by 6.6% in the fourth quarter. State Street Corp now owns 396,715 shares of the company’s stock valued at $10,699,000 after buying an additional 24,412 shares during the last quarter. State of Tennessee Treasury Department acquired a new stake in Shoe Carnival during the third quarter valued at about $307,000. Finally, BlackRock Fund Advisors raised its stake in Shoe Carnival by 181.4% in the third quarter. BlackRock Fund Advisors now owns 1,040,575 shares of the company’s stock valued at $27,742,000 after buying an additional 670,802 shares during the last quarter. Institutional investors and hedge funds own 68.46% of the company’s stock.
Shares of Shoe Carnival (NASDAQ:SCVL) traded down 5.08% during midday trading on Thursday, hitting $21.68. The company’s stock had a trading volume of 224,284 shares. Shoe Carnival has a 52-week low of $21.16 and a 52-week high of $31.79. The firm has a market cap of $383.56 million, a P/E ratio of 16.96 and a beta of 0.90. The stock’s 50 day moving average is $24.36 and its 200-day moving average is $26.06.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 24th. Shareholders of record on Monday, April 10th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, April 6th. This represents a $0.28 annualized dividend and a yield of 1.29%. Shoe Carnival’s payout ratio is 18.30%.
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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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