Shoe Carnival (NASDAQ:SCVL) had its price target lowered by Wedbush from $47.00 to $45.00 in a research note issued on Friday, November 16th. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 28.31% from the company’s current price. Wedbush also issued estimates for Shoe Carnival’s FY2019 earnings at $2.38 EPS and FY2020 earnings at $2.63 EPS.

Other equities analysts have also issued reports about the stock. Susquehanna Bancshares reiterated a “neutral” rating on shares of Shoe Carnival in a research report on Thursday, July 19th. Zacks Investment Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 31st. BidaskClub upgraded shares of Shoe Carnival from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 16th. Finally, Pivotal Research set a $39.00 price objective on shares of Shoe Carnival and gave the company a “buy” rating in a research report on Monday, August 27th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Shoe Carnival presently has a consensus rating of “Buy” and a consensus target price of $38.60.

SCVL stock traded down $1.20 during midday trading on Friday, reaching $35.07. 417,064 shares of the company were exchanged, compared to its average volume of 461,663. Shoe Carnival has a 1-year low of $21.01 and a 1-year high of $45.00. The stock has a market cap of $583.55 million, a P/E ratio of 23.54 and a beta of 0.73.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 15th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.15. The business had revenue of $269.18 million for the quarter, compared to analyst estimates of $265.40 million. Shoe Carnival had a net margin of 3.17% and a return on equity of 12.51%. On average, equities analysts predict that Shoe Carnival will post 2.38 EPS for the current year.

In other Shoe Carnival news, Director Kent A. Kleeberger sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $36.77, for a total transaction of $55,155.00. Following the sale, the director now directly owns 14,960 shares in the company, valued at approximately $550,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in shares of Shoe Carnival by 7.4% during the 3rd quarter. Wells Fargo & Company MN now owns 18,701 shares of the company’s stock worth $719,000 after buying an additional 1,289 shares during the last quarter. Stone Ridge Asset Management LLC raised its stake in shares of Shoe Carnival by 5.3% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 34,944 shares of the company’s stock worth $1,345,000 after buying an additional 1,765 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Shoe Carnival by 51.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 6,242 shares of the company’s stock worth $240,000 after buying an additional 2,128 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Shoe Carnival by 95.1% during the 3rd quarter. Quantbot Technologies LP now owns 6,245 shares of the company’s stock worth $240,000 after buying an additional 3,044 shares during the last quarter. Finally, Mackay Shields LLC raised its stake in shares of Shoe Carnival by 5.9% during the 2nd quarter. Mackay Shields LLC now owns 57,200 shares of the company’s stock worth $1,856,000 after buying an additional 3,200 shares during the last quarter. Institutional investors own 81.61% 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, jewelry, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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