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Aug. 29, 2018, 2:39 p.m. EDT

Shoe Carnival stock soars more than 13% as analysts cheer better-than-expected earnings

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By Ciara Linnane

Shoe Carnival Inc. shares /zigman2/quotes/203407380/composite SCVL -3.93% surged more than 13% Wednesday, as analysts weighed in its better-than-expected second-quarter earnings. Wedbush analyst Christopher Svezia raised his stock price target to $44 from $38 and said the company's higher guidance was still likely conservative. " While mindful of store closures and shifting weeks around 4Q, it is clear that the retailer's outperformance is carrying over into 2H and clean inventories, conservative boot planning, improved product/brand availability, rewards, CRM, digital, and real estate initiatives and more should bode well for the outlook," he wrote in a note. am Poser at Susquehanna raised his stock price target to $38 from $35 but stuck with his neutral rating. "While trends are strong now, difficult boot comparisons later in the year and the increasing likelihood of decelerating athletic sales (SSS of +MSD in 2Q18) are of concern," he said. Like fellow footwear retailer DSW Inc. a day earlier, Shoe Carnival said it benefited from strong sales of sandals and a new loyalty program that was launched just ahead of the back to school season. Shares have gained 57% in 2018, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.05% has gained 9%.

/zigman2/quotes/203407380/composite
US : U.S.: Nasdaq
$ 34.96
-1.43 -3.93%
Volume: 95,156
Feb. 21, 2020 4:00p
P/E Ratio
12.75
Dividend Yield
0.97%
Market Cap
$516.49 million
Rev. per Employee
$220,899
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/zigman2/quotes/210599714/realtime
US : S&P US
3,337.75
-35.48 -1.05%
Volume: 2.12B
Feb. 21, 2020 5:16p
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