Shoe Carnival (NASDAQ:SCVL) Releases FY 2021 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.350-$4.500 for the period, compared to the Thomson Reuters consensus estimate of $3.110. The company issued revenue guidance of $1.21 billion-$1.23 billion, compared to the consensus revenue estimate of $1.17 billion.Shoe Carnival also updated its Q3 2021 guidance to $1.100-$1.150 EPS.

NASDAQ:SCVL traded up $0.55 during mid-day trading on Wednesday, reaching $34.67. The stock had a trading volume of 599 shares, compared to its average volume of 285,202. The firm has a 50 day moving average price of $35.06 and a two-hundred day moving average price of $32.62. The stock has a market capitalization of $979.01 million, a P/E ratio of 8.92 and a beta of 1.48. Shoe Carnival has a one year low of $15.19 and a one year high of $42.83.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Tuesday, August 24th. The company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.99. Shoe Carnival had a return on equity of 32.38% and a net margin of 9.21%. Equities research analysts anticipate that Shoe Carnival will post 4.43 earnings per share for the current year.

A number of equities analysts have commented on SCVL shares. Monness Crespi & Hardt started coverage on Shoe Carnival in a research note on Thursday, August 19th. They issued a buy rating and a $42.00 price target on the stock. Pivotal Research boosted their target price on Shoe Carnival from $44.00 to $46.00 and gave the company a buy rating in a research note on Thursday, August 19th.

In related news, Director Kent A. Kleeberger sold 1,500 shares of the company’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $37.46, for a total value of $56,190.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 32.00% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Shoe Carnival stock. Morgan Stanley grew its stake in Shoe Carnival, Inc. (NASDAQ:SCVL) by 107.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,235 shares of the company’s stock after acquiring an additional 46,270 shares during the quarter. Morgan Stanley owned 0.31% of Shoe Carnival worth $6,388,000 at the end of the most recent quarter. 32.06% of the stock is currently owned by hedge funds and other institutional investors.

Shoe Carnival Company Profile

Shoe Carnival, Inc engages in the retail of footwear products. It offers casual and athletic footwear for men, women, and children under the Skechers, Clarks, Adidas, Crocs, New Balance, Converse, Roxy, Nike, Vans, Madden Girl, Sperry, Rampage, Keds, PUMA, Timberland, Koolaburra, Jellypop, and ASICS brands.

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

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