StockNews.com upgraded the stock of Shoe Carnival (NASDAQ:SCVL – Get Rating) from a hold rating to a buy rating in a report released on Friday morning.
Separately, Monness Crespi & Hardt reduced their price objective on shares of Shoe Carnival to $40.00 and set a sector weight rating for the company in a research note on Thursday, May 19th.
Shoe carnival stock performance
NASDAQ:SCVL opened at $25.44 on Friday. Shoe Carnival has a one year low of $20.03 and a one year high of $46.21. The firm has a market cap of $701.81 million, a P/E ratio of 5.25 and a beta of 1.41. The firm has a 50-day simple moving average of $23.30 and a 200-day simple moving average of $27.80.
Carnival Shoes (NASDAQ:SCVL – Get Rating ) last posted its quarterly earnings results on Wednesday, May 18th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The business had revenue of $317.53 million during the quarter, compared to analyst estimates of $329.60 million. Shoe Carnival had a net margin of 10.50% and a return on equity of 32.77%. During the same quarter a year ago, the business posted $1.51 EPS. On average, research analysts predict that Shoe Carnival will post 3.95 EPS for the current fiscal year.
Shoe Carnival Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, July 11th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, July 8th. This represents a dividend of $0.36 on an annualized basis and a yield of 1.42%. Shoe Carnival’s payout ratio is 7.42%.
Institutional inflows and outflows
A number of hedge funds have recently bought and sold shares of SCVL. CWM LLC raised its stake in Shoe Carnival by 181.6% during the first quarter. CWM LLC now owns 1,594 shares of the company’s stock worth $46,000 after purchasing an additional 1,028 shares in the last quarter. Northwestern Mutual Wealth Management Co . raised its holdings in shares of Shoe Carnival by 164.6% in the first quarter. Northwestern Mutual Wealth Management Co . now owns 2,000 shares of the company’s stock valued at $58,000 after purchasing an additional 1,244 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Shoe Carnival by 54.3% during the first quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock valued at $66,000 after buying an additional 802 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Shoe Carnival by 2,011.6% during the second quarter. First Horizon Advisors Inc. now owns 3,273 shares of the company’s stock valued at $70,000 after purchasing an additional 3,118 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in Shoe Carnival by 14.8% during the second quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock valued at $101,000 after buying an additional 602 shares in the last quarter. Institutional investors and hedge funds own 64.18% of the company’s shares.
About shoe carnivals
(Get rating)
Shoe Carnival, Inc., together with its subsidiaries, operates as a family-owned shoe retailer in the United States. The company offers ranges of clothing, casual, work and athletic footwear, as well as sandals and boots for men, women and children; and different accessories. As of January 29, 2022, it operated 372 stores in 35 states and Puerto Rico under the Carnival Shoe banner; and 21 locations throughout the Southeast under the Shoe Station banner.
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