Shoe Carnival stock (NASDAQ:SCVL) had a day to remember as it was skyrocketing late in the day following a weak start to the day, thanks in large part to the company unveiling its latest quarterly earnings results, which were better than what analysts were calling for by a considerable margin.
The Evansville, Indiana-based family footwear retailer said that for its third quarter of fiscal 2018, it brought in net income of $12 million, or 76 cents per share. The figure was much better than the 61 cents per share that analysts were calling for in their consensus estimate, according to data compiled by Zacks Investment Research, while also beating the 66 cents per share it brought in during the year-ago quarter.
Shoe Carnival stock was sliding about 4.9% during regular trading hours on Thursday as the company geared up to report its latest quarterly earnings figures. SCVL shares were skyrocketing late in the day as the company posted results that came in well ahead of what the Wall Street consensus estimate was calling for.
The stock is selling at $37.09 per share as of Friday’s open.