Shoe Carnival (NASDAQ:SCVL) Hits New 12-Month Low – What’s Next?

Shoe Carnival, Inc. (NASDAQ:SCVL) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $19.15 and last traded at $19.24, with a volume of 1102809 shares changing hands. The stock had previously closed at $23.00.

Shoe Carnival Trading Up 3.5 %

The stock has a market capitalization of $541.33 million, a PE ratio of 7.32 and a beta of 1.35. The firm’s fifty day moving average is $23.38 and its 200-day moving average is $31.52.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $262.90 million for the quarter, compared to the consensus estimate of $277.89 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. As a group, equities analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.15 per share. This is a positive change from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, April 7th. Shoe Carnival’s dividend payout ratio (DPR) is currently 22.39%.

Shoe Carnival announced that its Board of Directors has authorized a share buyback plan on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Shoe Carnival

Several hedge funds have recently bought and sold shares of SCVL. FMR LLC grew its position in Shoe Carnival by 8.7% in the 3rd quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after acquiring an additional 343 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Shoe Carnival by 0.8% in the fourth quarter. Sei Investments Co. now owns 56,940 shares of the company’s stock valued at $1,884,000 after purchasing an additional 437 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Shoe Carnival by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 9,284 shares of the company’s stock valued at $307,000 after purchasing an additional 511 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Shoe Carnival by 17.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the company’s stock worth $225,000 after buying an additional 987 shares during the period. Finally, Snowden Capital Advisors LLC lifted its holdings in Shoe Carnival by 9.1% during the 4th quarter. Snowden Capital Advisors LLC now owns 13,447 shares of the company’s stock worth $445,000 after buying an additional 1,123 shares in the last quarter. Institutional investors and hedge funds own 66.05% 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 range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.