Shoe Carnival (NASDAQ:SCVL) Reaches New 1-Year Low – Should You Sell?

Shoe Carnival, Inc. (NASDAQ:SCVL) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $24.28 and last traded at $24.60, with a volume of 374673 shares. The stock had previously closed at $24.73.

Wall Street Analysts Forecast Growth

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

Shoe Carnival Trading Down 4.8 %

The company’s fifty day moving average is $30.31 and its two-hundred day moving average is $35.87. The stock has a market cap of $635.78 million, a price-to-earnings ratio of 8.60 and a beta of 1.50.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, November 21st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $316.97 million. During the same quarter last year, the firm earned $0.80 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts predict that Shoe Carnival, Inc. will post 2.6 EPS for the current year.

Shoe Carnival Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 27th. Shareholders of record on Monday, January 13th were given a $0.135 dividend. The ex-dividend date was Monday, January 13th. This represents a $0.54 annualized dividend and a yield of 2.31%. Shoe Carnival’s dividend payout ratio is presently 19.85%.

Shoe Carnival declared that its Board of Directors has approved a stock buyback plan on Thursday, December 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Shoe Carnival

In other Shoe Carnival news, Chairman Wayne J. Weaver purchased 285,500 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was bought at an average price of $33.91 per share, with a total value of $9,681,305.00. Following the transaction, the chairman now directly owns 4,173,529 shares of the company’s stock, valued at approximately $141,524,368.39. This represents a 7.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shoe Carnival

Several institutional investors have recently modified their holdings of SCVL. Harvest Fund Management Co. Ltd purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth $62,000. Quarry LP purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth $76,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Shoe Carnival during the 4th quarter worth $99,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Shoe Carnival during the 4th quarter worth $178,000. 66.05% of the stock is owned by hedge funds and other institutional investors.

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.