Jefferies Group LLC Reaffirms “Hold” Rating for Shoe Carnival, Inc. (SCVL)

Jefferies Group LLC Reaffirms “Hold” Rating for Shoe Carnival, Inc. (SCVL)

SCVL has been the subject of a number of other research reports. Johnson Rice downgraded Shoe Carnival from a buy rating to an accumulate rating in a research report on Friday, March 24th. B. Riley began coverage on Shoe Carnival in a research report on Tuesday, March 14th. They set a neutral rating and a $26.00 price target for the company. Susquehanna Bancshares Inc reiterated a neutral rating and set a $24.00 price target on shares of Shoe Carnival in a research report on Monday, March 27th. Zacks Investment Research downgraded Shoe Carnival from a hold rating to a sell rating in a research report on Tuesday, March 28th. Finally, ValuEngine upgraded Shoe Carnival from a hold rating to a buy rating in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Shoe Carnival has a consensus rating of Hold and an average target price of $24.50.

Jefferies Group LLC restated their hold rating on shares of Shoe Carnival, Inc. (NASDAQ:SCVL) in a research note issued to investors on Thursday morning. They currently have a $21.00 target price on the stock, down from their previous target price of $26.00.

Shoe Carnival (SCVL) opened at 19.52 on Thursday. Shoe Carnival has a 52 week low of $17.56 and a 52 week high of $31.79. The firm has a market cap of $328.19 million, a P/E ratio of 16.61 and a beta of 0.90. The firm’s 50-day moving average price is $23.20 and its 200 day moving average price is $25.70.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The firm had revenue of $253.40 million during the quarter, compared to the consensus estimate of $251.74 million. Shoe Carnival had a return on equity of 8.51% and a net margin of 2.86%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. Equities analysts forecast that Shoe Carnival will post $1.41 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after buying an additional 6,260 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Shoe Carnival during the first quarter worth $249,000. United Capital Financial Advisers LLC purchased a new stake in Shoe Carnival during the first quarter worth $303,000. Finally, State of Tennessee Treasury Department purchased a new stake in Shoe Carnival during the third quarter worth $307,000. Institutional investors own 68.46% of the company’s stock.

About Shoe Carnival

Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SCVL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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