Pivotal Research set a $39.00 price target on Shoe Carnival (NASDAQ:SCVL) in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has a buy rating on the stock.
“We are modeling 2Q SSS at the high end of guidance, as we believe it was a strong quarter for the company, driven by sandals early, favorable B2S trends late and a strong brand/product offering throughout the quarter. We’re also modeling the high end of guidance. This reflects a y/y back half earnings decline on calendar shift drags, but SCVL may be able to offset some of this pressure by potentially closing fewer stores than currently in the plan.”,” Pivotal Research’s analyst wrote.
Several other brokerages have also issued reports on SCVL. Zacks Investment Research upgraded shares of Shoe Carnival from a hold rating to a buy rating and set a $40.00 target price for the company in a research report on Saturday, August 25th. TheStreet upgraded shares of Shoe Carnival from a c+ rating to a b rating in a research report on Friday, May 25th. BidaskClub upgraded shares of Shoe Carnival from a hold rating to a buy rating in a research report on Thursday, May 31st. Susquehanna Bancshares restated a neutral rating on shares of Shoe Carnival in a research report on Thursday, July 19th. Finally, Citigroup lowered shares of Shoe Carnival from a buy rating to a neutral rating and set a $32.00 price target for the company. in a research report on Thursday, July 19th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $33.00.
Shares of NASDAQ:SCVL opened at $43.02 on Monday. Shoe Carnival has a 52-week low of $15.07 and a 52-week high of $44.40. The firm has a market capitalization of $560.27 million, a P/E ratio of 28.87 and a beta of 0.75.
Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Tuesday, August 28th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.20. Shoe Carnival had a net margin of 2.31% and a return on equity of 9.61%. The company had revenue of $268.37 million during the quarter, compared to analyst estimates of $265.16 million. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. analysts predict that Shoe Carnival will post 2.08 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Shoe Carnival during the second quarter valued at about $125,000. MetLife Investment Advisors LLC purchased a new stake in Shoe Carnival during the fourth quarter valued at about $110,000. Itau Unibanco Holding S.A. purchased a new stake in Shoe Carnival during the second quarter valued at about $141,000. Bank of Montreal Can boosted its position in Shoe Carnival by 9,179.7% during the second quarter. Bank of Montreal Can now owns 5,939 shares of the company’s stock valued at $192,000 after buying an additional 5,875 shares during the period. Finally, Texas Permanent School Fund purchased a new stake in Shoe Carnival during the second quarter valued at about $226,000. Institutional investors and hedge funds own 79.13% 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, jewelry, scarves, and wallets.
Read More: Tariff
Receive News & Ratings for Shoe Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoe Carnival and related companies with MarketBeat.com's FREE daily email newsletter.