Shoe Carnival, Inc. Plans Quarterly Dividend of $0.14 (NASDAQ:SCVL)

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Tuesday, June 25th, Zacks reports. Investors of record on Monday, July 8th will be given a dividend of 0.135 per share on Monday, July 22nd. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, July 8th.

Shoe Carnival has raised its dividend payment by an average of 32.8% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Shoe Carnival has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Shoe Carnival to earn $2.98 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 18.1%.

Shoe Carnival Stock Down 1.7 %

SCVL traded down $0.62 during trading on Thursday, hitting $36.53. The company’s stock had a trading volume of 29,731 shares, compared to its average volume of 197,073. Shoe Carnival has a twelve month low of $19.87 and a twelve month high of $39.65. The stock’s fifty day moving average price is $35.88 and its 200-day moving average price is $32.22. The firm has a market capitalization of $992.15 million, a P/E ratio of 13.49 and a beta of 1.49.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Thursday, May 23rd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Shoe Carnival had a return on equity of 13.02% and a net margin of 6.20%. The firm had revenue of $300.37 million for the quarter, compared to analyst estimates of $292.38 million. Equities research analysts expect that Shoe Carnival will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,467 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $32.46, for a total value of $80,078.82. Following the completion of the transaction, the director now owns 20,106 shares in the company, valued at approximately $652,640.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SCVL has been the subject of several recent research reports. Williams Trading upgraded Shoe Carnival from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, March 22nd. Monness Crespi & Hardt downgraded Shoe Carnival from a “buy” rating to a “neutral” rating in a report on Tuesday, March 19th.

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.