Shoe Carnival (SCVL) Projected to Post Earnings on Thursday

Shoe Carnival (NASDAQ:SCVL) is projected to post its quarterly earnings results before the market opens on Thursday, March 20th. Analysts expect Shoe Carnival to post earnings of $0.42 per share and revenue of $277.89 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Shoe Carnival Price Performance

Shares of Shoe Carnival stock opened at $22.72 on Wednesday. Shoe Carnival has a 1 year low of $20.51 and a 1 year high of $46.92. The business has a 50-day moving average of $25.57 and a two-hundred day moving average of $33.15. The company has a market capitalization of $617.42 million, a P/E ratio of 8.35 and a beta of 1.51.

Shoe Carnival announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 12th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Shoe Carnival Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.15 dividend. This is an increase from Shoe Carnival’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, April 7th. Shoe Carnival’s dividend payout ratio is 19.85%.

Wall Street Analysts Forecast Growth

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

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.