Shoe Carnival (NASDAQ:SCVL) Trading 6.6% Higher – Still a Buy?

Shoe Carnival, Inc. (NASDAQ:SCVL) shares rose 6.6% on Monday . The stock traded as high as $36.25 and last traded at $36.15. Approximately 64,717 shares were traded 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Williams Trading increased their price objective on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. StockNews.com lowered Shoe Carnival from a “hold” rating to a “sell” rating in a report on Friday, November 22nd.

Shoe Carnival Price Performance

The stock has a market capitalization of $913.18 million, a P/E ratio of 12.33 and a beta of 1.56. The business’s 50 day simple moving average is $38.44 and its two-hundred day simple moving average is $38.69. The company has a quick ratio of 0.89, a current ratio of 3.88 and a debt-to-equity ratio of 0.50.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $331.45 million. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that Shoe Carnival, Inc. will post 2.6 earnings per share for the current fiscal year.

Shoe Carnival Announces Dividend

The company 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. This represents a $0.54 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Monday, October 7th. Shoe Carnival’s dividend payout ratio is 19.85%.

Institutional Trading of Shoe Carnival

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. bought a new stake in Shoe Carnival in the 3rd quarter worth about $530,000. Barclays PLC increased its position in shares of Shoe Carnival by 189.7% during the third quarter. Barclays PLC now owns 30,342 shares of the company’s stock valued at $1,330,000 after acquiring an additional 19,868 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Shoe Carnival by 2.4% during the third quarter. Geode Capital Management LLC now owns 452,548 shares of the company’s stock worth $19,848,000 after acquiring an additional 10,761 shares during the period. XTX Topco Ltd purchased a new position in Shoe Carnival in the third quarter worth $296,000. Finally, State Street Corp grew its stake in Shoe Carnival by 2.2% in the 3rd quarter. State Street Corp now owns 793,318 shares of the company’s stock valued at $34,787,000 after purchasing an additional 17,086 shares during the period. Hedge funds and other institutional investors 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.