Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) - Equities researchers at Wedbush dropped their Q3 2024 earnings estimates for Steven Madden in a research note issued on Wednesday, May 1st. Wedbush analyst T. Nikic now expects that the textile maker will post earnings per share of $0.96 for the quarter, down from their prior forecast of $0.97. Wedbush currently has a "Neutral" rating and a $38.00 price target on the stock. The consensus estimate for Steven Madden's current full-year earnings is $2.61 per share. Wedbush also issued estimates for Steven Madden's Q4 2024 earnings at $0.50 EPS.
Several other equities analysts have also recently weighed in on SHOO. StockNews.com raised shares of Steven Madden from a "hold" rating to a "buy" rating in a research note on Thursday, February 29th. Jefferies Financial Group reiterated a "hold" rating and issued a $40.00 price target on shares of Steven Madden in a research note on Thursday, January 4th. Piper Sandler began coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a "neutral" rating and a $45.00 price objective for the company. Citigroup lifted their target price on Steven Madden from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Finally, Williams Trading reissued a "hold" rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.38.
Check Out Our Latest Research Report on Steven Madden
Steven Madden Stock Performance
Steven Madden stock traded down $0.52 during midday trading on Friday, reaching $39.59. The stock had a trading volume of 671,859 shares, compared to its average volume of 799,101. The stock has a market capitalization of $2.90 billion, a P/E ratio of 16.36 and a beta of 1.15. The firm's fifty day simple moving average is $41.15 and its 200-day simple moving average is $39.96. Steven Madden has a 1-year low of $29.92 and a 1-year high of $45.63.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.09. The company had revenue of $552.38 million for the quarter, compared to analyst estimates of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The company's quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share.
Steven Madden Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 2.12%. Steven Madden's dividend payout ratio is 34.71%.
Insider Activity
In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company's stock, valued at approximately $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Zine Mazouzi sold 7,246 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the completion of the transaction, the chief financial officer now owns 68,785 shares in the company, valued at approximately $2,865,583.10. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock valued at $2,464,841 over the last three months. Insiders own 2.08% of the company's stock.
Institutional Trading of Steven Madden
Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Steven Madden by 30.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker's stock worth $61,738,000 after buying an additional 345,558 shares during the period. Vanguard Group Inc. increased its position in Steven Madden by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker's stock worth $264,632,000 after acquiring an additional 80,199 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Steven Madden by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker's stock worth $1,092,000 after purchasing an additional 482 shares in the last quarter. Raymond James & Associates raised its stake in Steven Madden by 4.1% in the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker's stock worth $4,447,000 after purchasing an additional 4,136 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Steven Madden by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker's stock valued at $199,032,000 after purchasing an additional 316,676 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.
Steven Madden Company Profile
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Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.
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