Shoe Carnival, Inc. (NASDAQ:SCVL) Receives $38.00 Average Price Target from Brokerages

Shoe Carnival, Inc. (NASDAQ:SCVL) has been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $38.00.

Several analysts have weighed in on SCVL shares. Zacks Investment Research upgraded Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a research report on Thursday, May 30th. Wedbush set a $69.00 price objective on Albireo Pharma and gave the company a “buy” rating in a research report on Thursday, May 23rd. Pivotal Research reiterated a “hold” rating and issued a $33.00 price objective (down previously from $37.00) on shares of DISH Network in a research report on Monday, May 20th. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th.

NASDAQ:SCVL traded down $0.57 during mid-day trading on Friday, reaching $27.49. The stock had a trading volume of 8,362 shares, compared to its average volume of 338,471. The company has a 50 day moving average price of $27.00. The company has a market capitalization of $418.24 million, a PE ratio of 11.16 and a beta of 1.05. Shoe Carnival has a one year low of $23.98 and a one year high of $45.00. The company has a quick ratio of 0.28, a current ratio of 2.66 and a debt-to-equity ratio of 0.69.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Wednesday, May 22nd. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.06). Shoe Carnival had a return on equity of 12.20% and a net margin of 3.81%. The firm had revenue of $253.80 million during the quarter, compared to the consensus estimate of $259.24 million. During the same quarter in the previous year, the firm earned $0.83 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Shoe Carnival will post 2.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.08. Shoe Carnival’s dividend payout ratio is currently 13.88%.

Several institutional investors have recently made changes to their positions in SCVL. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in shares of Shoe Carnival by 482.1% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 327,180 shares of the company’s stock valued at $11,133,000 after acquiring an additional 270,976 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Shoe Carnival by 32.0% during the first quarter. Royce & Associates LP now owns 639,932 shares of the company’s stock valued at $21,777,000 after acquiring an additional 155,068 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Shoe Carnival during the first quarter valued at approximately $4,038,000. Foundry Partners LLC bought a new position in shares of Shoe Carnival during the first quarter valued at approximately $3,113,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Shoe Carnival during the first quarter valued at approximately $2,692,000. Institutional investors own 97.54% of the company’s stock.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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