Wall Street brokerages forecast that Shoe Carnival, Inc. (NASDAQ:SCVL) will report $0.06 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Shoe Carnival’s earnings. The highest EPS estimate is $0.07 and the lowest is $0.05. Shoe Carnival reported earnings of $0.07 per share during the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The business is expected to announce its next quarterly earnings report on Thursday, March 22nd.
On average, analysts expect that Shoe Carnival will report full-year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.47 to $1.48. For the next financial year, analysts expect that the company will report earnings of $1.83 per share, with EPS estimates ranging from $1.60 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Shoe Carnival.
Several brokerages recently commented on SCVL. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price target (down previously from $27.00) on shares of Shoe Carnival in a research note on Friday, November 17th. TheStreet raised Shoe Carnival from a “c” rating to a “b-” rating in a research note on Friday, November 17th. BidaskClub lowered Shoe Carnival from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. Pivotal Research began coverage on Shoe Carnival in a research note on Tuesday, November 21st. They issued a “hold” rating and a $28.00 price objective on the stock. Finally, Zacks Investment Research lowered Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Shoe Carnival presently has a consensus rating of “Hold” and an average target price of $25.86.
Shoe Carnival declared that its board has approved a share repurchase program on Tuesday, December 19th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in shares of Shoe Carnival by 11.1% during the second quarter. Wells Fargo & Company MN now owns 48,873 shares of the company’s stock worth $1,021,000 after acquiring an additional 4,880 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Shoe Carnival by 13.6% during the second quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock worth $227,000 after acquiring an additional 1,300 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Shoe Carnival by 19.3% during the second quarter. Ameriprise Financial Inc. now owns 83,309 shares of the company’s stock worth $1,741,000 after acquiring an additional 13,459 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Shoe Carnival by 127.9% during the second quarter. Nationwide Fund Advisors now owns 24,932 shares of the company’s stock worth $521,000 after acquiring an additional 13,993 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Shoe Carnival by 17.8% during the second quarter. Northern Trust Corp now owns 673,302 shares of the company’s stock worth $14,059,000 after acquiring an additional 101,530 shares during the last quarter. 70.33% of the stock is currently owned by institutional investors.
Shoe Carnival Company Profile
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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