Shoe Carnival (NASDAQ:SHOE) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shoe Carnival, Inc. (NASDAQ:SHOE) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $0.00 and traded as high as $13.36. Shoe Carnival shares last traded at $13.22, with a volume of 777,803 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SHOE shares. Wall Street Zen cut shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings lowered Shoe Carnival from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, Zacks Research lowered Shoe Carnival from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.00.

Shoe Carnival Stock Performance

The business has a 50 day simple moving average of $13.87. The company has a market capitalization of $359.86 million, a P/E ratio of 15.05 and a beta of 1.37.

Shoe Carnival (NASDAQ:SHOE) last announced its quarterly earnings data on Thursday, September 10th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The firm had revenue of $284.31 million during the quarter, compared to analysts’ expectations of $299.19 million. Shoe Carnival had a net margin of 2.20% and a return on equity of 5.32%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. Equities analysts forecast that Shoe Carnival, Inc. will post 0.85 earnings per share for the current fiscal year.

Shoe Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, October 6th. Shoe Carnival’s dividend payout ratio (DPR) is 77.27%.

Hedge Funds Weigh In On Shoe Carnival

Institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC raised its holdings in Shoe Carnival by 94.1% in the third quarter. Copeland Capital Management LLC now owns 7,157 shares of the company’s stock valued at $92,000 after acquiring an additional 3,469 shares in the last quarter. GAMMA Investing LLC lifted its stake in Shoe Carnival by 269.2% during the third quarter. GAMMA Investing LLC now owns 1,931 shares of the company’s stock worth $25,000 after purchasing an additional 1,408 shares during the last quarter. State Street Corp acquired a new position in Shoe Carnival in the second quarter valued at approximately $6,373,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Shoe Carnival during the 2nd quarter worth $152,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Shoe Carnival in the second quarter valued at $46,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ:SHOE) is a family footwear retailer serving customers through stores and e-commerce. The company offers a broad selection of men’s, women’s and children’s footwear, including athletic, casual, dress and work styles, along with accessories such as handbags, backpacks, socks and shoe care products.

Shoe Carnival sells merchandise from nationally recognized brands and selected private-label brands. Its stores emphasize value-oriented pricing, frequent promotions and a family-friendly shopping experience, while its digital platform allows customers to browse and purchase products online.

Founded in 1978, the company is headquartered in Evansville, Indiana, and operates primarily in the United States.