Susquehanna Remains Sidelined on Shoe Carnival (SCVL) Following 3Q

November 29, 2016 7:44 AM EST
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Price: $25.32 +1.65%

Rating Summary:
    1 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Susquehanna reiterated a Neutral rating and $27.00 price target on Shoe Carnival (NASDAQ: SCVL) following the company's 3Q earnings report. Total SSS dropped 0.4% in 3Q16 as positive SSS in athletic shoes were not enough to offset a HSD SSS decline in boots. SCVL reported EPS of $0.54 versus the consensus of $0.56. Revenue increased 1.8% to $274.5M versus the consensus of a 2.9% increase.

Analyst Sam Poser commented, "Remain Neutral. SCVL missed expectations and lowered guidance in a disappointing 3Q16 print. Poor sales of seasonal merchandise, primarily boots, will continue to pressure results into 4Q16. Despite promise in multi-channel and loyalty program initiatives, L-MSD declines in traffic are of concern."

For an analyst ratings summary and ratings history on Shoe Carnival click here. For more ratings news on Shoe Carnival click here.

Shares of Shoe Carnival closed at $30.27 yesterday.

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