logo
  Join        Login             Stock Quote

Shoe Carnival (SCVL) Stock To See Upside Rewards On Upbeat Outlook

 March 22, 2012 09:39 AM
 


Chain of footwear retail operator Shoe Carnival (Nasdaq: SCVL) shares will open higher on Thursday when the market opens on a positive outlook for the first quarter. The company also posted better than expected results for the fourth quarter. The stock had already witnessed nearly10 percent gain during the extended hours of trading on Wednesday.

The company guided first quarter earnings between 75 cents and 78 cents a share on projected net sales of $219 - $222 million. Shoe Carnival also sees comparable store sales growth of 5.5 – 7.0 percent on top of 3.4 percent achieved in 2011 first quarter. This is way ahead of analysts' estimation of 70 cents a share on revenues of $207.69 million.

[Related -Futures Rise Before Factory Orders Data; Nuance (NUAN) Surges]

In the fourth quarter, the company earned profit of $3.3 million, down 25 percent from $4.4 million and earnings dipped 27.3 percent to 24 cents a share from 33 cents a share in the year-ago quarter.

Net sales modestly rose by 1.1 percent to $181.9 million from $179.9 million in the previous year quarter. Street analysts were estimating the company to report earnings of 21 cents a share on revenues of $180.91 million.

For the five analysts, mean and median price target is $30. While highest price target is $34, lowest target is $26.00. During the 52-week period, shares of Shoe Carnival ranged between $19.19 and $34.05. The stock closed Wednesday's regular trading at $26.51. In the extended hours trading, the stock advanced $2.59 or 9.77 percent to end at $29.09.

[Related -Stocks Mixed as Bernanke 'Fiscal Cliff' Remarks Weigh; Hewlett-Packard (HPQ) Plunges]

Significantly, five analysts' have either Strong Buy or Buy rating on the company's stock, while only one analyst has recommended investors to Hold the stock. There is no one to recommend either Sell or Underperform.

Based on SCVL's 52-week high is $34.05 and the analysts' highest price target of $34.00, shares of the company closed Wednesday's normal trading 22 percent lower. Compared to median and mean target of $30.00 also, the stock closed approximately 12 percent lower. Therefore, there is enough space to see upside rewards from Wednesday's closing level.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.