Sterne Agee Downgrades Shoe Carnival (SCVL) to Neutral; Valuation Call
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Price: $17.43 --0%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 9 | New: 8
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 9 | New: 8
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Sterne Agee downgraded Shoe Carnival (NASDAQ: SCVL) from Buy to Neutral.
Analyst, Sam Poser, said, "We would not put new money to work at this time...We believe SCVL is a very good company with a solid management team that is executing properly. However, the results and outlook met our expectations but did not exceed them. The stock has already passed our prior PT of $23, and given no new catalysts we see no reason to put new money to work."
"We are raising our FY12 EPS estimate from $1.55 to $1.56 to account for the beat in Q2. We are reducing our FY13 EPS estimate from $1.76 to $1.74 reflecting lower than expected store openings."
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 $24.38 yesterday.
Analyst, Sam Poser, said, "We would not put new money to work at this time...We believe SCVL is a very good company with a solid management team that is executing properly. However, the results and outlook met our expectations but did not exceed them. The stock has already passed our prior PT of $23, and given no new catalysts we see no reason to put new money to work."
"We are raising our FY12 EPS estimate from $1.55 to $1.56 to account for the beat in Q2. We are reducing our FY13 EPS estimate from $1.76 to $1.74 reflecting lower than expected store openings."
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 $24.38 yesterday.
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