Shoe Carnival Target of Unusually Large Options Trading (SCVL)

Shoe Carnival, Inc. (NASDAQ:SCVL) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 2,077 put options on the company. This represents an increase of approximately 1,897% compared to the typical volume of 104 put options.

A number of equities analysts have recently commented on the stock. Wedbush restated an “outperform” rating and issued a $25.00 price objective (down from $27.00) on shares of Shoe Carnival in a research report on Friday, November 17th. Zacks Investment Research lowered shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Susquehanna Bancshares upgraded shares of Shoe Carnival from a “neutral” rating to a “positive” rating and raised their price objective for the company from $19.00 to $23.00 in a research report on Wednesday, September 20th. TheStreet upgraded shares of Shoe Carnival from a “c” rating to a “b-” rating in a research report on Friday, November 17th. Finally, UBS Group upgraded shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research report on Wednesday, September 20th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Shoe Carnival has an average rating of “Hold” and a consensus target price of $25.86.

A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Shoe Carnival by 2.5% during the second quarter. Legal & General Group Plc now owns 22,564 shares of the company’s stock valued at $471,000 after purchasing an additional 557 shares during the last quarter. Alliancebernstein L.P. lifted its position in Shoe Carnival by 13.6% during the second quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock valued at $227,000 after purchasing an additional 1,300 shares during the last quarter. Citigroup Inc. lifted its position in Shoe Carnival by 12.5% during the second quarter. Citigroup Inc. now owns 17,658 shares of the company’s stock valued at $368,000 after purchasing an additional 1,961 shares during the last quarter. California Public Employees Retirement System lifted its position in Shoe Carnival by 6.4% during the second quarter. California Public Employees Retirement System now owns 49,800 shares of the company’s stock valued at $1,040,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Shoe Carnival by 11.1% during the second quarter. Wells Fargo & Company MN now owns 48,873 shares of the company’s stock valued at $1,021,000 after purchasing an additional 4,880 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

Shares of Shoe Carnival (NASDAQ SCVL) opened at $26.41 on Friday. Shoe Carnival has a 1 year low of $15.07 and a 1 year high of $28.38. The stock has a market cap of $447.70, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.06.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. The business had revenue of $287.47 million during the quarter, compared to analyst estimates of $286.90 million. equities analysts expect that Shoe Carnival will post 1.48 EPS for the current fiscal year.

Shoe Carnival announced that its Board of Directors has initiated a stock repurchase 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. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Shareholders of record on Monday, January 8th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, January 5th. This represents a $0.30 annualized dividend and a yield of 1.14%. Shoe Carnival’s payout ratio is presently 21.90%.

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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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