Wedbush Boosts Shoe Carnival (NASDAQ:SCVL) Price Target to $42.00

Shoe Carnival (NASDAQ:SCVL) had its price objective upped by Wedbush from $32.00 to $42.00 in a research note published on Wednesday, The Fly reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for Shoe Carnival’s Q3 2020 earnings at $0.91 EPS, Q4 2020 earnings at $0.17 EPS, FY2020 earnings at $2.67 EPS, Q1 2021 earnings at $0.84 EPS, Q2 2021 earnings at $0.91 EPS, Q3 2021 earnings at $1.00 EPS, Q4 2021 earnings at $0.21 EPS, FY2021 earnings at $2.96 EPS and FY2022 earnings at $3.30 EPS.

SCVL has been the subject of a number of other reports. Pivotal Research set a $31.00 target price on shares of Shoe Carnival and gave the company a buy rating in a report on Friday, August 23rd. ValuEngine raised shares of Shoe Carnival from a hold rating to a buy rating in a report on Monday, November 11th. Susquehanna Bancshares set a $37.00 target price on shares of Shoe Carnival and gave the company a buy rating in a report on Tuesday, October 8th. Zacks Investment Research cut shares of Shoe Carnival from a buy rating to a hold rating in a report on Wednesday, October 30th. Finally, BidaskClub upgraded shares of Shoe Carnival from a hold rating to a buy rating in a research report on Saturday, October 19th. Eight analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus target price of $37.75.

NASDAQ:SCVL traded up $0.19 during mid-day trading on Wednesday, hitting $36.62. 137,000 shares of the company’s stock were exchanged, compared to its average volume of 123,875. Shoe Carnival has a one year low of $21.47 and a one year high of $42.02. The company has a market cap of $534.49 million, a PE ratio of 14.95 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.21 and a quick ratio of 0.29. The business has a fifty day moving average price of $33.70 and a 200 day moving average price of $29.70.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Wednesday, August 28th. The company reported $0.80 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.80. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.32%. The business had revenue of $268.22 million during the quarter, compared to analysts’ expectations of $268.62 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that Shoe Carnival will post 2.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.085 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.93%. Shoe Carnival’s payout ratio is currently 13.88%.

In other Shoe Carnival news, Director Charles B. Tomm sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.49, for a total value of $235,920.00. Following the completion of the transaction, the director now directly owns 13,039 shares in the company, valued at $384,520.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kent A. Kleeberger sold 1,090 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $28.68, for a total transaction of $31,261.20. Following the completion of the transaction, the director now owns 15,054 shares of the company’s stock, valued at $431,748.72. The disclosure for this sale can be found here. Corporate insiders own 23.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SCVL. Eqis Capital Management Inc. boosted its position in shares of Shoe Carnival by 15.8% during the third quarter. Eqis Capital Management Inc. now owns 9,190 shares of the company’s stock worth $298,000 after acquiring an additional 1,251 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Shoe Carnival during the third quarter worth $119,000. SG Americas Securities LLC boosted its position in shares of Shoe Carnival by 134.2% during the third quarter. SG Americas Securities LLC now owns 25,465 shares of the company’s stock worth $825,000 after acquiring an additional 14,591 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Shoe Carnival by 19.1% during the third quarter. First Trust Advisors LP now owns 20,996 shares of the company’s stock worth $680,000 after acquiring an additional 3,373 shares during the last quarter. Finally, Texas Permanent School Fund bought a new position in shares of Shoe Carnival during the third quarter worth $204,000. Institutional investors and hedge funds own 92.68% 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 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, scarves, and wallets.

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