Zacks: Analysts Anticipate Shoe Carnival, Inc. (SCVL) Will Post Quarterly Sales of $244.95 Million

Wall Street analysts expect Shoe Carnival, Inc. (NASDAQ:SCVL) to announce $244.95 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Shoe Carnival’s earnings, with estimates ranging from $244.00 million to $245.90 million. Shoe Carnival reported sales of $234.20 million during the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, March 22nd.

On average, analysts expect that Shoe Carnival will report full-year sales of $244.95 million for the current fiscal year. For the next financial year, analysts forecast that the business will report sales of $1.01 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for Shoe Carnival.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. The business had revenue of $287.47 million for the quarter, compared to the consensus estimate of $286.90 million.

Several equities analysts have recently weighed in on the company. Pivotal Research assumed coverage on Shoe Carnival in a research report on Tuesday, November 21st. They set a “hold” rating and a $28.00 target price on the stock. TheStreet raised Shoe Carnival from a “c” rating to a “b-” rating in a research report on Friday, November 17th. BidaskClub raised Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Jefferies Group set a $22.00 target price on Shoe Carnival and gave the company a “hold” rating in a research report on Saturday, November 18th. Finally, Wedbush reissued a “buy” rating and set a $33.00 target price (up previously from $27.00) on shares of Shoe Carnival in a research report on Tuesday, December 19th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.86.

Shoe Carnival (NASDAQ:SCVL) traded up $0.05 during trading hours on Friday, reaching $22.88. The company’s stock had a trading volume of 157,500 shares, compared to its average volume of 281,750. The company has a market cap of $387.01, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 1.04 and a beta of 0.91. Shoe Carnival has a 1-year low of $15.07 and a 1-year high of $28.38.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 22nd. Shareholders of record on Monday, January 8th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, January 5th. Shoe Carnival’s dividend payout ratio (DPR) is presently 22.56%.

Shoe Carnival declared that its Board of Directors has approved a stock buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its position in Shoe Carnival by 13.6% in the 2nd quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock valued at $227,000 after acquiring an additional 1,300 shares during the last quarter. Citigroup Inc. grew its position in Shoe Carnival by 12.5% in the 2nd quarter. Citigroup Inc. now owns 17,658 shares of the company’s stock valued at $368,000 after acquiring an additional 1,961 shares during the last quarter. Alambic Investment Management L.P. grew its position in Shoe Carnival by 15.5% in the 4th quarter. Alambic Investment Management L.P. now owns 19,337 shares of the company’s stock valued at $517,000 after acquiring an additional 2,600 shares during the last quarter. California Public Employees Retirement System grew its position in Shoe Carnival by 6.4% in the 2nd quarter. California Public Employees Retirement System now owns 49,800 shares of the company’s stock valued at $1,040,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Shoe Carnival by 12.9% in the 4th quarter. Rhumbline Advisers now owns 29,078 shares of the company’s stock valued at $778,000 after acquiring an additional 3,324 shares during the last quarter. 69.28% of the stock is currently owned by institutional investors.

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

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