Shoe Carnival (NASDAQ:SCVL) Releases FY 2024 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.550-2.750 for the period, compared to the consensus estimate of 2.630. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion.

Shoe Carnival Price Performance

NASDAQ SCVL opened at $37.07 on Monday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 13.68 and a beta of 1.57. The company’s fifty day moving average price is $34.58 and its two-hundred day moving average price is $30.14. Shoe Carnival has a 12 month low of $19.24 and a 12 month high of $37.35.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Thursday, May 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $300.37 million for the quarter, compared to analysts’ expectations of $292.38 million. Shoe Carnival had a return on equity of 13.02% and a net margin of 6.20%. As a group, analysts anticipate that Shoe Carnival will post 2.65 EPS for the current year.

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.135 dividend. The ex-dividend date was Friday, April 5th. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 1.46%. Shoe Carnival’s payout ratio is 19.93%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SCVL shares. Monness Crespi & Hardt cut shares of Shoe Carnival from a buy rating to a neutral rating in a report on Tuesday, March 19th. Williams Trading raised Shoe Carnival from a hold rating to a buy rating and set a $40.00 price target on the stock in a report on Friday, March 22nd.

Insider Buying and Selling at Shoe Carnival

In other news, EVP Carl N. Scibetta sold 5,415 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $35.45, for a total value of $191,961.75. Following the completion of the transaction, the executive vice president now owns 118,077 shares of the company’s stock, valued at $4,185,829.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,467 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $32.46, for a total value of $80,078.82. Following the completion of the sale, the director now directly owns 20,106 shares in the company, valued at $652,640.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carl N. Scibetta sold 5,415 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $35.45, for a total value of $191,961.75. Following the transaction, the executive vice president now directly owns 118,077 shares of the company’s stock, valued at $4,185,829.65. The disclosure for this sale can be found here. 34.70% 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 range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.