Steven Madden, Ltd. (NASDAQ:SHOO) – Wedbush boosted their FY2018 earnings per share estimates for Steven Madden in a research note issued on Wednesday, October 31st. Wedbush analyst C. Svezia now expects that the textile maker will post earnings of $1.79 per share for the year, up from their prior forecast of $1.77. Wedbush currently has a “Neutral” rating and a $31.00 price target on the stock. Wedbush also issued estimates for Steven Madden’s FY2019 earnings at $1.90 EPS.
Other equities research analysts have also issued research reports about the company. Canaccord Genuity set a $39.33 price target on Steven Madden and gave the stock a “buy” rating in a research note on Monday, July 30th. BidaskClub lowered Steven Madden from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. B. Riley set a $38.67 price target on Steven Madden and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Buckingham Research boosted their price target on Steven Madden from $36.00 to $41.33 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, Citigroup dropped their price target on Steven Madden from $40.67 to $38.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.52.
Shares of SHOO stock opened at $32.04 on Monday. Steven Madden has a fifty-two week low of $25.10 and a fifty-two week high of $39.30. The stock has a market cap of $2.84 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.66.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. Steven Madden had a return on equity of 18.05% and a net margin of 8.79%. The business had revenue of $458.48 million for the quarter, compared to analyst estimates of $472.80 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc boosted its position in Steven Madden by 81.8% in the second quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock valued at $108,000 after buying an additional 900 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Steven Madden in the second quarter valued at approximately $113,000. WINTON GROUP Ltd purchased a new stake in Steven Madden in the 2nd quarter worth approximately $213,000. CIBC Asset Management Inc purchased a new stake in Steven Madden in the 2nd quarter worth approximately $226,000. Finally, Strs Ohio boosted its position in Steven Madden by 27.0% in the 2nd quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock worth $249,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 64.12% of the company’s stock.
In related news, Director Rose Peabody Lynch sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $57.27, for a total value of $143,175.00. Following the sale, the director now owns 7,103 shares in the company, valued at $406,788.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Awadhesh K. Sinha sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $57.50, for a total value of $230,000.00. Following the completion of the sale, the chief operating officer now owns 57,845 shares in the company, valued at approximately $3,326,087.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,500 shares of company stock worth $771,405. 1.77% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 21st will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Steven Madden’s previous quarterly dividend of $0.13. Steven Madden’s dividend payout ratio is currently 35.57%.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
See Also: Earnings Per Share
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