Shoe Carnival Inc. (SCVL) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Shoe Carnival Inc. (NASDAQ:SCVL) released its quarterly earnings data on Monday. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.02. Shoe Carnival had a net margin of 2.84% and a return on equity of 8.33%. The company earned $274.50 million during the quarter. During the same period in the previous year, the company earned $0.47 EPS. Shoe Carnival’s quarterly revenue was up 2.2% compared to the same quarter last year. Shoe Carnival updated its FY17 guidance to $1.45-1.51 EPS.
Shares of Shoe Carnival (NASDAQ:SCVL) opened at 26.15 on Wednesday. The stock has a market capitalization of $492.20 million, a PE ratio of 17.81 and a beta of 0.90. The stock has a 50 day moving average of $27.03 and a 200-day moving average of $26.23. Shoe Carnival has a one year low of $19.60 and a one year high of $31.79.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. Jefferies Group upped their price objective on shares of Shoe Carnival from $24.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, September 1st. Finally, Susquehanna assumed coverage on shares of Shoe Carnival in a research note on Thursday, September 15th. They issued a “neutral” rating and a $27.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Shoe Carnival presently has a consensus rating of “Hold” and an average price target of $27.80.
Large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in Shoe Carnival by 181.4% in the third quarter. BlackRock Fund Advisors now owns 1,040,575 shares of the company’s stock valued at $27,742,000 after buying an additional 670,802 shares during the period. Bank of New York Mellon Corp increased its stake in Shoe Carnival by 113.2% in the third quarter. Bank of New York Mellon Corp now owns 211,104 shares of the company’s stock valued at $5,628,000 after buying an additional 112,088 shares during the period. Principal Financial Group Inc. purchased a new stake in Shoe Carnival during the third quarter valued at about $2,728,000. LSV Asset Management increased its stake in Shoe Carnival by 62.8% in the second quarter. LSV Asset Management now owns 229,298 shares of the company’s stock valued at $5,746,000 after buying an additional 88,486 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in Shoe Carnival during the third quarter valued at about $2,076,000. 66.55% of the stock is currently owned by hedge funds and other institutional investors.
About Shoe Carnival
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children.
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