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

Shoe Carnival, Inc. (NASDAQ:SCVL) announced a quarterly dividend on Wednesday, September 18th, Zacks reports. Investors of record on Monday, October 7th will be given a dividend of 0.135 per share on Monday, October 21st. This represents a $0.54 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Monday, October 7th.

Shoe Carnival has increased its dividend by an average of 32.8% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Shoe Carnival has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NASDAQ:SCVL opened at $44.62 on Thursday. Shoe Carnival has a 52-week low of $21.18 and a 52-week high of $46.49. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 16.46 and a beta of 1.53. The stock’s 50-day simple moving average is $40.87 and its two-hundred day simple moving average is $37.14.

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

Analyst Ratings Changes

Separately, Williams Trading lifted their price target on shares of Shoe Carnival from $42.00 to $51.00 and gave the company 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.