Shoe Carnival, Inc. (SCVL) to Issue Quarterly Dividend of $0.14 on October 21st

Shoe Carnival, Inc. (NASDAQ:SCVL) declared a quarterly dividend on Tuesday, September 17th, Zacks reports. Investors of record on Monday, October 7th will be paid a dividend of 0.135 per share on Monday, October 21st. This represents a $0.54 annualized dividend and a yield of 1.18%. The ex-dividend date is Monday, October 7th.

Shoe Carnival has increased its dividend by an average of 32.8% annually over the last three years and has increased its dividend every year for the last 13 years. Shoe Carnival has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Shoe Carnival to earn $3.03 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 17.8%.

Shoe Carnival Stock Up 2.7 %

Shoe Carnival stock traded up $1.20 during midday trading on Thursday, hitting $45.82. 331,516 shares of the stock were exchanged, compared to its average volume of 217,660. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.46 and a beta of 1.53. The business’s 50-day moving average price is $40.87 and its 200-day moving average price is $37.14. Shoe Carnival has a 52-week low of $21.18 and a 52-week high of $46.49.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. Shoe Carnival had a return on equity of 13.26% and a net margin of 6.26%. The firm had revenue of $332.70 million for the quarter, compared to the consensus estimate of $331.45 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that Shoe Carnival will post 2.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Williams Trading increased their price objective on Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

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.