Shoe Carnival (NASDAQ:SCVL) Updates FY 2023 Earnings Guidance

Shoe Carnival (NASDAQ:SCVL – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of $3.60-$3.85 for the period, compared to the consensus earnings per share estimate of $3.73. The company issued revenue guidance of $1.23 billion-$1.25 billion, compared to the consensus revenue estimate of $1.26 billion.

Wall Street Analysts Forecast Growth

SCVL has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Shoe Carnival in a report on Thursday, May 18th. They set a hold rating for the company. Williams Trading cut shares of Shoe Carnival from a buy rating to a hold rating in a report on Monday, May 1st.

Shoe Carnival Stock Performance

Shoe Carnival stock opened at $19.69 on Friday. Shoe Carnival has a fifty-two week low of $19.32 and a fifty-two week high of $29.70. The stock has a market cap of $538.32 million, a PE ratio of 5.45 and a beta of 1.43. The firm’s 50-day simple moving average is $23.89 and its 200 day simple moving average is $24.97.

Shoe Carnival (NASDAQ:SCVL – Get Rating) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. Shoe Carnival had a net margin of 8.13% and a return on equity of 19.43%. The business had revenue of $290.78 million for the quarter, compared to analyst estimates of $299.37 million. As a group, analysts predict that Shoe Carnival will post 3.72 EPS for the current fiscal year.

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Monday, April 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.03%. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.09. Shoe Carnival’s payout ratio is 11.08%.

Institutional Trading of Shoe Carnival

Several institutional investors and hedge funds have recently bought and sold shares of SCVL. Advisory Services Network LLC lifted its stake in Shoe Carnival by 124.8% in the 1st quarter. Advisory Services Network LLC now owns 1,261 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Shoe Carnival by 54.3% in the 1st quarter. Captrust Financial Advisors now owns 2,278 shares of the company’s stock worth $66,000 after buying an additional 802 shares during the last quarter. Point72 Hong Kong Ltd increased its holdings in shares of Shoe Carnival by 14.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,661 shares of the company’s stock worth $101,000 after buying an additional 602 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of Shoe Carnival in the 3rd quarter worth $127,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Shoe Carnival in the 1st quarter worth $200,000. 65.33% of the stock is currently owned by hedge funds and other institutional investors.

About Shoe Carnival

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Shoe Carnival, Inc engages in the retail of footwear products. It offers casual and athletic footwear for men, women, and children under the Skechers, Clarks, Adidas, Crocs, New Balance, Converse, Roxy, Nike, Vans, Madden Girl, Sperry, Rampage, Keds, PUMA, Timberland, Koolaburra, Jellypop, and ASICS brands.