Seeking Alpha

Sterne Agee maintains Buy rating on Shoe Carnival after top line miss

  • A $2.76M top-line miss isn't enough to turn Sterne Agee's Sam Poser against shares of Shoe Carnival (SCVL) which, you might recall, Poser has been positive on for a while now.
  • "While we were disappointed with top-line results, margins and expenses were managed well," Poser thinks, adding that same-store sales for the current quarter are "running up 1%, but accelerating."
  • Buy rating reiterated, price target is $30.
  • Poser cuts FY13 and FY14 EPS estimates to $1.52 (from $1.57) and $1.89 (from $1.93) respectively, but says that if "the late Q3 and Q4 weather is not as warm as in the past two years, and a 75 store test of better women's product is successful," these estimates could "prove conservative."
  • Previous: Sterne Agee thinks Kohl's earnings bode well for SCVL
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs