Shoe Carnival (SCVL) Reaches New 52-Week High and Low After Earnings Beat

Shoe Carnival (NASDAQ:SCVL) hit a new 52-week high and low during trading on Friday after the company announced better than expected quarterly earnings. The company traded as low as $31.49 and last traded at $30.72, with a volume of 39328 shares trading hands. The stock had previously closed at $28.24.

The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12. Shoe Carnival had a net margin of 1.86% and a return on equity of 8.02%. The company had revenue of $257.40 million during the quarter, compared to analyst estimates of $261.82 million. During the same quarter last year, the business posted $0.48 EPS. Shoe Carnival’s quarterly revenue was up 1.6% compared to the same quarter last year.

Several equities research analysts have recently issued reports on SCVL shares. Pivotal Research set a $30.00 price target on shares of Shoe Carnival and gave the stock a “buy” rating in a research note on Wednesday, March 28th. TheStreet lowered shares of Shoe Carnival from a “b” rating to a “c+” rating in a research note on Wednesday, March 28th. Zacks Investment Research lowered shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. BidaskClub upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Jefferies Group reiterated a “hold” rating and issued a $24.00 price objective on shares of Shoe Carnival in a research note on Wednesday, March 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Shoe Carnival presently has a consensus rating of “Hold” and a consensus target price of $26.43.

In other Shoe Carnival news, Director Jeffrey C. Gerstel sold 1,200 shares of the firm’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $24.48, for a total value of $29,376.00. Following the completion of the transaction, the director now directly owns 4,893 shares of the company’s stock, valued at approximately $119,780.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP W Kerry Jackson sold 4,000 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $23.82, for a total transaction of $95,280.00. Following the completion of the transaction, the executive vice president now directly owns 131,187 shares of the company’s stock, valued at $3,124,874.34. The disclosure for this sale can be found here. Insiders sold a total of 12,700 shares of company stock valued at $302,781 over the last quarter. 22.70% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Alambic Investment Management L.P. boosted its holdings in Shoe Carnival by 15.5% in the 4th quarter. Alambic Investment Management L.P. now owns 19,337 shares of the company’s stock valued at $517,000 after purchasing an additional 2,600 shares during the period. Northern Trust Corp boosted its holdings in Shoe Carnival by 0.5% in the 1st quarter. Northern Trust Corp now owns 727,285 shares of the company’s stock valued at $17,309,000 after purchasing an additional 3,319 shares during the period. Rhumbline Advisers boosted its holdings in Shoe Carnival by 12.9% in the 4th quarter. Rhumbline Advisers now owns 29,078 shares of the company’s stock valued at $778,000 after purchasing an additional 3,324 shares during the period. Wells Fargo & Company MN boosted its holdings in Shoe Carnival by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 18,041 shares of the company’s stock valued at $482,000 after purchasing an additional 3,580 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in Shoe Carnival by 36.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,580 shares of the company’s stock valued at $363,000 after purchasing an additional 3,640 shares during the period. 82.00% of the stock is owned by hedge funds and other institutional investors.

The firm has a market cap of $414.13 million, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.11 and a beta of 0.80.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.

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