Shoe Carnival, Inc. (SCVL) to Issue Quarterly Dividend of $0.14 on October 21st

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Monday, October 7th will be paid a dividend of 0.135 per share on Monday, October 21st. This represents a $0.54 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, October 7th.

Shoe Carnival has increased its dividend payment by an average of 32.8% per year over the last three years and has raised its dividend every year for the last 13 years. Shoe Carnival has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shoe Carnival to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 17.8%.

Shoe Carnival Trading Up 3.0 %

Shares of NASDAQ:SCVL opened at $41.70 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 15.39 and a beta of 1.53. The stock’s 50-day moving average price is $41.67 and its 200-day moving average price is $38.08. Shoe Carnival has a 12-month low of $21.18 and a 12-month high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results 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. The business had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. Shoe Carnival’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. As a group, research analysts predict that Shoe Carnival will post 2.65 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Williams Trading upped their price target on shares of Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, August 29th.

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.