Shoe Carnival (NASDAQ:SCVL) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
SCVL has been the subject of several other reports. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $28.00 target price on shares of Shoe Carnival in a research report on Friday, November 17th. Jefferies Group set a $22.00 target price on Shoe Carnival and gave the stock a “hold” rating in a research report on Saturday, November 18th. Pivotal Research started coverage on Shoe Carnival in a research report on Tuesday, November 21st. They issued a “hold” rating and a $28.00 target price for the company. Wedbush reaffirmed a “buy” rating and issued a $33.00 target price (up from $27.00) on shares of Shoe Carnival in a research report on Tuesday, December 19th. Finally, TheStreet raised Shoe Carnival from a “c” rating to a “b-” rating in a research report on Friday, November 17th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Shoe Carnival presently has a consensus rating of “Hold” and a consensus target price of $25.86.
Shoe Carnival (NASDAQ SCVL) opened at $23.32 on Friday. The company has a market capitalization of $386.50, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.04 and a beta of 0.91. Shoe Carnival has a 12-month low of $15.07 and a 12-month high of $28.38.
Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Thursday, November 16th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.58 by $0.08. The firm had revenue of $287.47 million during the quarter, compared to analysts’ expectations of $286.90 million. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. equities analysts predict that Shoe Carnival will post 1.48 EPS for the current fiscal year.
Shoe Carnival declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 19th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC lifted its holdings in shares of Shoe Carnival by 39.2% during the fourth quarter. Citadel Advisors LLC now owns 152,856 shares of the company’s stock valued at $4,089,000 after acquiring an additional 43,054 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Shoe Carnival during the fourth quarter valued at $6,858,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Shoe Carnival by 31.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 58,758 shares of the company’s stock valued at $1,571,000 after acquiring an additional 14,034 shares during the period. BlackRock Inc. lifted its holdings in shares of Shoe Carnival by 3.6% during the fourth quarter. BlackRock Inc. now owns 1,534,621 shares of the company’s stock valued at $41,052,000 after acquiring an additional 53,961 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Shoe Carnival by 12.9% during the fourth quarter. Rhumbline Advisers now owns 29,078 shares of the company’s stock valued at $778,000 after acquiring an additional 3,324 shares during the period. 67.39% of the stock is owned by institutional investors.
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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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