Shoe Carnival (NASDAQ:SCVL) Trading 6.6% Higher – Should You Buy?

Shoe Carnival, Inc. (NASDAQ:SCVL)’s stock price rose 6.6% during mid-day trading on Monday . The company traded as high as $36.25 and last traded at $36.15. Approximately 64,717 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 246,432 shares. The stock had previously closed at $33.90.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded Shoe Carnival from a “hold” rating to a “sell” rating in a report on Friday. Williams Trading upped their target price on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Trading Up 3.1 %

The stock has a market cap of $949.32 million, a price-to-earnings ratio of 12.46 and a beta of 1.56. The business’s 50 day moving average is $38.78 and its 200 day moving average is $38.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.88 and a quick ratio of 0.89.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The business had revenue of $332.70 million during the quarter, compared to analysts’ expectations of $331.45 million. During the same period in the prior year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts expect that Shoe Carnival, Inc. will post 2.67 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a dividend of $0.135 per share. The ex-dividend date was Monday, October 7th. This represents a $0.54 dividend on an annualized basis and a yield of 1.55%. Shoe Carnival’s payout ratio is currently 19.85%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SCVL. FMR LLC raised its stake in Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock worth $187,000 after acquiring an additional 343 shares in the last quarter. Rhumbline Advisers increased its position in shares of Shoe Carnival by 0.7% during the second quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock worth $2,092,000 after purchasing an additional 394 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Shoe Carnival by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company’s stock valued at $1,164,000 after purchasing an additional 402 shares during the last quarter. Sei Investments Co. boosted its position in shares of Shoe Carnival by 1.1% in the 2nd quarter. Sei Investments Co. now owns 52,816 shares of the company’s stock valued at $1,948,000 after purchasing an additional 595 shares during the period. Finally, EMC Capital Management grew its stake in Shoe Carnival by 11.9% during the 1st quarter. EMC Capital Management now owns 7,468 shares of the company’s stock worth $274,000 after buying an additional 793 shares during the last quarter. Institutional investors and hedge funds own 66.05% of the company’s stock.

About Shoe Carnival

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.