Shoe Carnival (NASDAQ:SCVL) Trading 6.6% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SCVL. Williams Trading boosted their price target 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 research report on Friday.

Shoe Carnival Price Performance

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

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

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders 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 dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, October 7th. Shoe Carnival’s dividend payout ratio is presently 19.85%.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors have recently made changes to their positions in SCVL. Innealta Capital LLC acquired a new position in Shoe Carnival in the 2nd quarter valued at about $41,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Shoe Carnival in the third quarter valued at approximately $62,000. Quarry LP acquired a new position in shares of Shoe Carnival in the third quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Shoe Carnival during the 3rd quarter worth approximately $76,000. Finally, FMR LLC lifted its holdings 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 buying an additional 343 shares in the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

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.