Shoe Carnival, Inc. (SCVL) to Issue Quarterly Dividend of $0.14 on January 27th

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Wednesday, December 11th,RTT News reports. Stockholders of record on Monday, January 13th will be given a dividend of 0.135 per share on Monday, January 27th. This represents a $0.54 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, January 13th.

Shoe Carnival has raised its dividend payment by an average of 27.2% per year over the last three years and has raised its dividend every year for the last 13 years. Shoe Carnival has a payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Shoe Carnival to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 18.4%.

Shoe Carnival Stock Down 1.0 %

Shares of NASDAQ SCVL opened at $30.35 on Friday. The stock’s 50-day simple moving average is $34.56 and its two-hundred day simple moving average is $38.07. Shoe Carnival has a twelve month low of $24.94 and a twelve month high of $46.92. The firm has a market capitalization of $824.76 million, a P/E ratio of 11.16 and a beta of 1.52.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The firm had revenue of $306.90 million for the quarter, compared to analyst estimates of $316.97 million. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Insider Activity

In other Shoe Carnival news, Chairman Wayne J. Weaver acquired 285,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $33.91 per share, for a total transaction of $9,681,305.00. Following the acquisition, the chairman now owns 4,173,529 shares in the company, valued at $141,524,368.39. This represents a 7.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 34.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Saturday, November 30th.

Shoe Carnival announced that its board has authorized a share buyback program on Thursday, December 12th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Shoe Carnival Company Profile

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.