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

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) has received an average recommendation of "Hold" from the nine analysts that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $32.00.

Several equities analysts have issued reports on SHOO shares. Piper Sandler dropped their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research report on Friday, May 2nd. Citigroup dropped their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research report on Wednesday. Finally, UBS Group boosted their target price on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th.

Steven Madden Trading Down 0.5%

Shares of SHOO traded down $0.13 during mid-day trading on Friday, hitting $24.67. 922,156 shares of the company's stock were exchanged, compared to its average volume of 1,057,170. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The firm has a market capitalization of $1.79 billion, a P/E ratio of 10.50 and a beta of 1.04. The business's 50 day moving average is $23.14 and its two-hundred day moving average is $33.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, June 9th. Steven Madden's dividend payout ratio is currently 36.21%.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently modified their holdings of the company. Pictet Asset Management Holding SA grew its holdings in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker's stock worth $447,000 after acquiring an additional 1,594 shares during the period. Deutsche Bank AG grew its holdings in Steven Madden by 49.0% during the 4th quarter. Deutsche Bank AG now owns 64,998 shares of the textile maker's stock valued at $2,764,000 after buying an additional 21,363 shares during the last quarter. Bank of Montreal Can grew its holdings in Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock valued at $453,000 after buying an additional 554 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Steven Madden by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker's stock valued at $16,208,000 after buying an additional 11,602 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Steven Madden by 26.4% during the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock valued at $24,835,000 after buying an additional 121,972 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

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.