Shoe Carnival, Inc. (NASDAQ:SCVL) to Issue $0.14 Quarterly Dividend

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Wednesday, September 18th, Zacks reports. Stockholders 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 dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, October 7th.

Shoe Carnival has raised its dividend by an average of 32.8% annually over the last three years and has raised 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. 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 Trading Up 1.6 %

Shares of Shoe Carnival stock opened at $44.62 on Thursday. The firm has a market cap of $1.21 billion, a PE ratio of 16.46 and a beta of 1.53. The stock has a 50 day moving average of $40.87 and a 200 day moving average of $37.14. Shoe Carnival has a 12 month low of $21.18 and a 12 month high of $46.49.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, September 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $331.45 million. During the same period in the prior year, the company earned $0.71 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts forecast that Shoe Carnival will post 2.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.