Susquehanna Initiates Coverage on Shoe Carnival to Neutral

Susquehanna Initiates Coverage on Shoe Carnival(NASDAQ:SCVL). The shares have been rated Neutral. The rating by Susquehanna was issued on Sep 16, 2016.

In a different note, On Sep 1, 2016, Jefferies said it Maintains its rating on Shoe Carnival. In the research note, the firm Raises the price-target to $24.00 per share. The shares have been rated ‘Hold’ by the firm.

Shoe Carnival (SCVL) made into the market gainers list on Thursdays trading session with the shares advancing 1.23% or 0.33 points. Due to strong positive momentum, the stock ended at $27.16, which is also near the day’s high of $27.2. The stock began the session at $26.87 and the volume stood at 1,99,461 shares. The 52-week high of the shares is $30.13 and the 52 week low is $17.36. The company has a current market capitalization of $511 M and it has 1,88,22,296 shares in outstanding.

Shoe Carnival has also declared a cash dividend of $0.0700 on Sep 9, 2016. The shares will quote ex-dividend on Sep 29, 2016 and the record date has been fixed on Oct 3, 2016. The dividend payable date has been fixed on Oct 17, 2016.

Shoe Carnival(SCVL) last announced its earnings results on Aug 31, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $231.91M. Analysts had an estimated revenue of $237.22M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.27.

Several Insider Transactions has been reported to the SEC. On Mar 21, 2016, Kent A Kleeberger (director) sold 1,500 shares at $27.07 per share price.Also, On Jan 28, 2016, Timothy T Baker (EXEC. VP – STORE OPERATIONS) sold 22,000 shares at $28.16 per share price.On Dec 16, 2015, Carl N. Scibetta (EVP – GENERAL MERCHANDISE MGR) sold 2,865 shares at $23.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Shoe Carnival Inc. is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores. The Company also offers online shopping on its e-commerce site at The Company’s product assortment includes dress and casual shoes sandals boots and an assortment of athletic shoes for the entire family. The Company operated approximately 400 stores in 33 states and Puerto Rico. The Company’s stores carry an average of approximately 28200 pairs of shoes featuring an assortment of current-season name brand footwear supplemented with private label merchandise. The Company’s stores also carry complementary accessories such as handbags shoe care items and socks. Its women’s men’s and children’s non-athletic footwear categories are further divided into dress casual sport sandals and boots. The Company’s wholly owned subsidiaries are SCHC Inc. and Shoe Carnival Ventures LLC.

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