Shoe Carnival (NASDAQ:SCVL) Stock Price Down 4.7% – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SCVL) was down 4.7% during mid-day trading on Monday . The stock traded as low as $37.86 and last traded at $37.87. Approximately 48,306 shares changed hands during trading, a decline of 79% from the average daily volume of 232,735 shares. The stock had previously closed at $39.73.

Wall Street Analysts Forecast Growth

Separately, Williams Trading boosted their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

Shoe Carnival Stock Down 0.4 %

The stock has a market capitalization of $978.66 million, a price-to-earnings ratio of 12.85 and a beta of 1.53. The business has a 50-day simple moving average of $41.36 and a two-hundred day simple moving average of $38.41.

Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $332.70 million during the quarter, compared to the consensus estimate of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts forecast that Shoe Carnival, Inc. will post 2.65 EPS for the current year.

Shoe Carnival Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s dividend payout ratio is presently 19.15%.

Institutional Trading of Shoe Carnival

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in shares of Shoe Carnival by 40.4% in the first quarter. Empowered Funds LLC now owns 114,073 shares of the company’s stock valued at $4,180,000 after purchasing an additional 32,827 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in shares of Shoe Carnival during the first quarter worth $240,000. CANADA LIFE ASSURANCE Co increased its position in Shoe Carnival by 11.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock worth $562,000 after buying an additional 1,562 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Shoe Carnival during the first quarter worth $383,000. Finally, Creative Planning acquired a new position in Shoe Carnival during the second quarter worth $281,000. Hedge funds and other institutional investors own 66.05% 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 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.