Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Monday, June 15th, Zacks reports. Shareholders of record on Monday, July 6th will be paid a dividend of 0.09 per share on Monday, July 20th. This represents a $0.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.09.
Shoe Carnival has a payout ratio of 97.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Shoe Carnival to earn $3.05 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 11.1%.
Shares of Shoe Carnival stock opened at $28.97 on Tuesday. Shoe Carnival has a 12-month low of $12.56 and a 12-month high of $40.00. The company has a current ratio of 2.23, a quick ratio of 0.22 and a debt-to-equity ratio of 0.66. The stock has a market cap of $381.72 million, a PE ratio of 35.33 and a beta of 1.25. The company has a 50-day moving average of $25.89 and a two-hundred day moving average of $28.82.
A number of research analysts have issued reports on the stock. Sidoti dropped their target price on shares of Shoe Carnival from $48.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 20th. ValuEngine raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Susquehanna Bancshares reissued a “buy” rating and set a $40.00 price objective on shares of Shoe Carnival in a research note on Tuesday, June 23rd. Zacks Investment Research raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wedbush raised their price objective on shares of Shoe Carnival from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Shoe Carnival presently has an average rating of “Buy” and a consensus target price of $36.80.
In related news, Director James A. Aschleman sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $29.61, for a total transaction of $44,415.00. Following the sale, the director now owns 13,978 shares in the company, valued at $413,888.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 27.50% of the stock is currently owned by company insiders.
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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