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

Key Points

• Steven Madden, Ltd. has received an average recommendation of "Hold" from analysts, with six holding and two buying recommendations.
• The average 12-month target price for Steven Madden shares among brokers is $31.80, with a recent upgrade from Citigroup raising their target to $32.00.
• The company announced a quarterly dividend of $0.21 per share, which results in an annualized yield of 2.4% and a payout ratio of 66.14%.

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) has earned a consensus recommendation of "Hold" from the eight ratings firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.80.

SHOO has been the topic of several research reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $26.00 to $32.00 in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Piper Sandler upgraded shares of Steven Madden from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $25.00 to $40.00 in a report on Monday, September 22nd. Finally, UBS Group lifted their price target on shares of Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. Thrivent Financial for Lutherans raised its holdings in Steven Madden by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker's stock worth $1,281,000 after buying an additional 378 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock worth $25,000 after acquiring an additional 485 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Steven Madden by 0.8% during the second quarter. California State Teachers Retirement System now owns 66,883 shares of the textile maker's stock valued at $1,604,000 after acquiring an additional 502 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Steven Madden by 7.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,722 shares of the textile maker's stock valued at $209,000 after acquiring an additional 610 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in shares of Steven Madden by 4.7% in the 2nd quarter. Vident Advisory LLC now owns 19,631 shares of the textile maker's stock valued at $471,000 after acquiring an additional 883 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $34.43 on Friday. Steven Madden has a 1 year low of $19.05 and a 1 year high of $49.38. The firm has a market cap of $2.50 billion, a P/E ratio of 27.11 and a beta of 1.22. The stock has a fifty day moving average price of $29.23 and a two-hundred day moving average price of $25.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The firm had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. During the same quarter last year, the company earned $0.57 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. Research analysts forecast that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Friday, September 12th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.4%. Steven Madden's payout ratio is 66.14%.

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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