Shoe Carnival (NASDAQ:SCVL) Announces Earnings Results, Beats Expectations By $0.03 EPS

Shoe Carnival (NASDAQ:SCVL) posted its quarterly earnings data on Thursday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03, Zacks reports. Shoe Carnival had a net margin of 4.60% and a return on equity of 7.75%. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis.

Shoe Carnival Stock Performance

Shares of Shoe Carnival stock opened at $15.78 on Thursday. The stock has a market capitalization of $433.52 million, a price-to-earnings ratio of 8.33 and a beta of 1.44. Shoe Carnival has a 52 week low of $14.91 and a 52 week high of $26.57. The firm has a fifty day moving average of $17.37 and a two-hundred day moving average of $18.14.

Shoe Carnival Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 6th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.68 dividend on an annualized basis and a yield of 4.3%. This is a boost from Shoe Carnival’s previous quarterly dividend of $0.15. Shoe Carnival’s dividend payout ratio (DPR) is presently 35.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SCVL shares. Williams Trading set a $22.00 price target on shares of Shoe Carnival in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shoe Carnival in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Activity at Shoe Carnival

In other Shoe Carnival news, CFO W Kerry Jackson purchased 31,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were purchased at an average cost of $16.13 per share, with a total value of $500,030.00. Following the transaction, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at $3,476,482.77. This represents a 16.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 33.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in shares of Shoe Carnival during the 4th quarter worth approximately $28,000. Kestra Advisory Services LLC bought a new stake in shares of Shoe Carnival during the 4th quarter valued at approximately $44,000. Los Angeles Capital Management LLC acquired a new position in Shoe Carnival during the 4th quarter worth approximately $86,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Shoe Carnival by 66.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock worth $146,000 after purchasing an additional 2,809 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Shoe Carnival in the 2nd quarter valued at approximately $146,000. 66.05% of the stock is owned by institutional investors and hedge funds.

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.