Steven Madden (NASDAQ:SHOO) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• The stock of Steven Madden (NASDAQ:SHOO) received a "hold (C)" rating from Weiss Ratings, maintaining a consensus rating of "Hold" among analysts.
• Steven Madden's earnings report showed a miss in EPS at $0.20 compared to the expected $0.24, with the company's revenue also falling short of estimates at $556.09 million.
• Institutional investors significantly increased their holdings, with 99.88% of the company's stock owned by them, highlighting strong institutional interest in Steven Madden.

Steven Madden (NASDAQ:SHOO - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Wednesday, July 30th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $26.00 price objective (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen cut Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. UBS Group lifted their price objective on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Citigroup raised Steven Madden from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $31.80.

Steven Madden Stock Up 2.8%

NASDAQ SHOO opened at $34.15 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. The stock has a market capitalization of $2.48 billion, a PE ratio of 26.89 and a beta of 1.22. Steven Madden has a 1 year low of $19.05 and a 1 year high of $49.12. The business's 50-day moving average is $29.71 and its 200 day moving average is $26.07.

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

Institutional Investors Weigh In On Steven Madden

A number of hedge funds have recently modified their holdings of SHOO. Nuveen LLC bought a new stake in shares of Steven Madden during the 1st quarter valued at $23,334,000. Invesco Ltd. grew its position in shares of Steven Madden by 50.5% during the 2nd quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker's stock valued at $58,198,000 after acquiring an additional 814,318 shares during the period. Millennium Management LLC grew its position in shares of Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock valued at $16,438,000 after acquiring an additional 568,477 shares during the period. Federated Hermes Inc. grew its position in shares of Steven Madden by 270,516.2% during the 1st quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker's stock valued at $14,202,000 after acquiring an additional 532,917 shares during the period. Finally, Nixon Capital LLC grew its position in shares of Steven Madden by 303.5% during the 2nd quarter. Nixon Capital LLC now owns 708,466 shares of the textile maker's stock valued at $16,989,000 after acquiring an additional 532,870 shares during the period. Institutional investors own 99.88% of the company's stock.

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.

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