Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Recommendation of "Hold" by Analysts

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) has been given an average recommendation of "Hold" by the eight brokerages that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.00.

A number of research firms recently weighed in on SHOO. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a research report on Wednesday, June 4th. Piper Sandler decreased their price objective on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. UBS Group raised their target price on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and lifted their target price for the company from $26.00 to $32.00 in a report on Thursday.

Steven Madden Price Performance

NASDAQ:SHOO opened at $26.47 on Monday. The company has a market capitalization of $1.92 billion, a P/E ratio of 11.41 and a beta of 1.10. The business has a fifty day simple moving average of $25.00 and a two-hundred day simple moving average of $28.76. Steven Madden has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. Steven Madden's payout ratio is currently 36.21%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CX Institutional bought a new position in Steven Madden in the first quarter valued at $32,000. Caitong International Asset Management Co. Ltd increased its position in shares of Steven Madden by 328.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock valued at $58,000 after purchasing an additional 1,657 shares during the last quarter. Quarry LP raised its holdings in shares of Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after buying an additional 1,110 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Steven Madden by 475.5% during the 2nd quarter. Signaturefd LLC now owns 2,492 shares of the textile maker's stock valued at $60,000 after buying an additional 2,059 shares in the last quarter. Finally, CWM LLC lifted its position in Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after buying an additional 1,589 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

About Steven Madden

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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