FY2018 Earnings Estimate for Shoe Carnival, Inc. (SCVL) Issued By Wedbush

Shoe Carnival, Inc. (NASDAQ:SCVL) – Wedbush upped their FY2018 earnings per share (EPS) estimates for shares of Shoe Carnival in a report issued on Thursday. Wedbush analyst C. Svezia now forecasts that the company will post earnings of $1.50 per share for the year, up from their prior estimate of $1.48. Wedbush currently has a “Buy” rating and a $33.00 price objective on the stock. Wedbush also issued estimates for Shoe Carnival’s Q4 2018 earnings at $0.09 EPS.

A number of other equities research analysts also recently weighed in on the company. Pivotal Research upgraded Shoe Carnival from a “hold” rating to a “buy” rating and raised their price target for the company from $29.00 to $30.00 in a research report on Friday, March 16th. Zacks Investment Research downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, BidaskClub upgraded Shoe Carnival from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.14.

Shares of Shoe Carnival (NASDAQ SCVL) opened at $24.62 on Monday. Shoe Carnival has a 12-month low of $15.07 and a 12-month high of $28.38. The firm has a market capitalization of $417.36, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.12 and a beta of 0.85.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCVL. Crossmark Global Holdings Inc. purchased a new position in shares of Shoe Carnival in the third quarter worth about $222,000. Ameriprise Financial Inc. increased its holdings in shares of Shoe Carnival by 7.7% in the third quarter. Ameriprise Financial Inc. now owns 89,684 shares of the company’s stock worth $2,009,000 after buying an additional 6,375 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Shoe Carnival by 104.8% in the third quarter. Macquarie Group Ltd. now owns 64,500 shares of the company’s stock worth $1,444,000 after buying an additional 33,000 shares during the period. Citadel Advisors LLC increased its holdings in shares of Shoe Carnival by 86.0% in the third quarter. Citadel Advisors LLC now owns 109,802 shares of the company’s stock worth $2,457,000 after buying an additional 50,759 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Shoe Carnival by 11.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 139,075 shares of the company’s stock worth $3,113,000 after buying an additional 14,272 shares during the period. Hedge funds and other institutional investors own 78.20% of the company’s stock.

Shoe Carnival declared that its board has approved a stock buyback program on Tuesday, December 19th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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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.

Earnings History and Estimates for Shoe Carnival (NASDAQ:SCVL)

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