Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) - Investment analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for Steven Madden in a report released on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the textile maker will earn $0.50 per share for the quarter, down from their prior estimate of $0.52. The consensus estimate for Steven Madden's current full-year earnings is $2.62 per share. Zacks Research also issued estimates for Steven Madden's Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.60 EPS, Q1 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.64 EPS, Q1 2026 earnings at $0.72 EPS and FY2026 earnings at $3.08 EPS.
Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.09. The company had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. Steven Madden's quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS.
Other equities analysts have also issued reports about the company. Williams Trading restated a "hold" rating and set a $44.00 target price on shares of Steven Madden in a report on Wednesday, February 21st. Telsey Advisory Group reiterated a "market perform" rating and issued a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Wedbush reiterated a "neutral" rating and set a $41.00 price objective on shares of Steven Madden in a report on Friday, May 17th. Piper Sandler began coverage on Steven Madden in a report on Wednesday, February 14th. They set a "neutral" rating and a $45.00 price objective on the stock. Finally, StockNews.com raised Steven Madden from a "hold" rating to a "buy" rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and a consensus target price of $41.75.
Read Our Latest Analysis on Steven Madden
Steven Madden Stock Performance
Shares of SHOO stock traded up $0.15 during mid-day trading on Thursday, hitting $41.45. 461,422 shares of the stock traded hands, compared to its average volume of 753,207. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 17.13 and a beta of 1.15. The company's 50-day simple moving average is $40.79 and its 200-day simple moving average is $40.83. Steven Madden has a twelve month low of $29.92 and a twelve month high of $45.63.
Steven Madden Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be given a $0.21 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.03%. Steven Madden's dividend payout ratio is currently 34.71%.
Insider Transactions at Steven Madden
In related news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares of the company's stock, valued at $2,865,583.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the company's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares of the company's stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock valued at $2,464,841 in the last ninety days. 2.08% of the stock is currently owned by corporate insiders.
Institutional Trading of Steven Madden
A number of hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in Steven Madden by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker's stock worth $43,018,000 after purchasing an additional 26,177 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Steven Madden by 30.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker's stock valued at $61,738,000 after buying an additional 345,558 shares during the last quarter. 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 purchasing an additional 80,199 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Steven Madden by 1.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker's stock worth $1,092,000 after buying an additional 482 shares during the period. Finally, Raymond James & Associates grew its stake in Steven Madden by 4.1% during the fourth quarter. Raymond James & Associates now owns 105,879 shares of the textile maker's stock worth $4,447,000 after buying an additional 4,136 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.
About Steven Madden
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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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