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

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) has earned a consensus recommendation of "Hold" from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $28.80.

Several equities analysts have commented on SHOO shares. Telsey Advisory Group reissued a "market perform" rating and issued a $26.00 price target (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group raised their price target on shares of Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and raised their price objective for the company from $26.00 to $32.00 in a report on Thursday, July 17th.

Institutional Trading of Steven Madden

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Steven Madden by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker's stock valued at $221,542,000 after purchasing an additional 218,785 shares in the last quarter. Wellington Management Group LLP increased its position in Steven Madden by 1.8% during the first quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker's stock worth $127,941,000 after purchasing an additional 84,570 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Steven Madden by 4.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker's stock worth $65,333,000 after purchasing an additional 106,028 shares during the last quarter. Invesco Ltd. increased its position in Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker's stock worth $58,198,000 after purchasing an additional 814,318 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Steven Madden by 1.9% during the second quarter. Geode Capital Management LLC now owns 1,790,038 shares of the textile maker's stock worth $42,931,000 after purchasing an additional 32,604 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Price Performance

Shares of SHOO traded down $0.64 during mid-day trading on Tuesday, hitting $31.15. 1,944,758 shares of the company were exchanged, compared to its average volume of 1,284,574. Steven Madden has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. The company has a 50 day moving average of $27.05 and a 200-day moving average of $25.39. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 24.53 and a beta of 1.21.

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

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Friday, September 12th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, September 12th. Steven Madden's dividend payout ratio (DPR) is currently 66.14%.

Steven Madden Company Profile

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.