Shoe Carnival (NASDAQ:SCVL) Lifted to “Sell” at BidaskClub

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BidaskClub upgraded shares of Shoe Carnival (NASDAQ:SCVL) from a strong sell rating to a sell rating in a report released on Wednesday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Shoe Carnival from a buy rating to a hold rating in a research report on Wednesday, July 24th. Wedbush reiterated an outperform rating and issued a $47.00 target price on shares of Shoe Carnival in a research note on Thursday, May 23rd. Pivotal Research reiterated a buy rating and issued a $38.00 target price (down from $42.00) on shares of Shoe Carnival in a research note on Monday, May 20th. Finally, ValuEngine cut shares of Shoe Carnival from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Shoe Carnival has a consensus rating of Hold and a consensus target price of $35.75.

Shares of SCVL opened at $23.85 on Wednesday. The company’s 50 day moving average price is $25.65 and its 200 day moving average price is $30.78. Shoe Carnival has a 52 week low of $21.47 and a 52 week high of $45.00. The company has a market capitalization of $377.40 million, a PE ratio of 10.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.28 and a current ratio of 2.66.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.06). Shoe Carnival had a net margin of 3.81% and a return on equity of 12.20%. The company had revenue of $253.80 million for the quarter, compared to analysts’ expectations of $259.24 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Shoe Carnival will post 2.64 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. United Services Automobile Association lifted its stake in Shoe Carnival by 10.1% in the second quarter. United Services Automobile Association now owns 7,539 shares of the company’s stock valued at $208,000 after acquiring an additional 689 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Shoe Carnival by 11.6% in the second quarter. New York State Teachers Retirement System now owns 8,119 shares of the company’s stock valued at $224,000 after acquiring an additional 841 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Shoe Carnival by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 185,925 shares of the company’s stock valued at $5,132,000 after acquiring an additional 1,033 shares during the last quarter. SG Americas Securities LLC lifted its stake in Shoe Carnival by 17.0% in the second quarter. SG Americas Securities LLC now owns 10,874 shares of the company’s stock valued at $300,000 after acquiring an additional 1,583 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Shoe Carnival by 6.9% in the second quarter. Royal Bank of Canada now owns 25,079 shares of the company’s stock valued at $693,000 after acquiring an additional 1,627 shares during the last quarter. Hedge funds and other institutional investors own 98.20% of the company’s stock.

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, scarves, and wallets.

Read More: What is Cost of Goods Sold (COGS)?

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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