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

Shoe Carnival (NASDAQ:SCVL) posted its earnings results on Thursday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03, Zacks reports. The business had revenue of $270.73 million during the quarter, compared to analysts’ expectations of $268.73 million. Shoe Carnival had a return on equity of 7.75% and a net margin of 4.60%.The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share.

Shoe Carnival Stock Performance

NASDAQ:SCVL traded up $0.53 during mid-day trading on Thursday, reaching $16.30. The stock had a trading volume of 67,995 shares, compared to its average volume of 406,484. The stock has a market capitalization of $447.98 million, a P/E ratio of 8.58 and a beta of 1.44. The firm has a 50 day moving average price of $17.37 and a two-hundred day moving average price of $18.14. Shoe Carnival has a one year low of $14.91 and a one year high of $26.57.

Shoe Carnival Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors 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 dividend yield of 4.2%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.15. Shoe Carnival’s payout ratio is 35.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a report on Friday, March 27th. Williams Trading set a $22.00 target price on shares of Shoe Carnival in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Buying and Selling

In other Shoe Carnival news, CFO W Kerry Jackson purchased 31,000 shares of Shoe Carnival stock in a transaction on Thursday, April 2nd. The shares were acquired at an average cost of $16.13 per share, for a total transaction of $500,030.00. Following the completion of the transaction, the chief financial officer directly owned 215,529 shares of the company’s stock, valued at approximately $3,476,482.77. The trade was a 16.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 33.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors have recently made changes to their positions in SCVL. Global Retirement Partners LLC bought a new position in shares of Shoe Carnival during the 4th quarter valued at $28,000. Kestra Advisory Services LLC purchased a new stake in Shoe Carnival during the fourth quarter valued at about $44,000. Los Angeles Capital Management LLC purchased a new stake in Shoe Carnival during the fourth quarter valued at about $86,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Shoe Carnival by 66.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,005 shares of the company’s stock valued at $146,000 after buying an additional 2,809 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Shoe Carnival during the second quarter valued at about $146,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.