Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $26.49, but opened at $25.67. Steven Madden shares last traded at $25.34, with a volume of 48,482 shares changing hands.
Analysts Set New Price Targets
A number of research firms recently commented on SHOO. Loop Capital dropped their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Citigroup reduced their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Telsey Advisory Group restated a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research note on Thursday, May 8th. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Steven Madden has an average rating of "Hold" and an average price target of $32.00.
Check Out Our Latest Research Report on Steven Madden
Steven Madden Price Performance
The company has a market cap of $1.78 billion, a price-to-earnings ratio of 10.45 and a beta of 1.04. The business's 50-day simple moving average is $23.38 and its 200-day simple moving average is $34.04.
Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. The company 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, June 9th. Steven Madden's payout ratio is currently 36.21%.
Institutional Investors Weigh In On Steven Madden
Hedge funds and other institutional investors have recently modified their holdings of the company. CX Institutional purchased a new stake in shares of Steven Madden during the first quarter worth about $32,000. R Squared Ltd purchased a new stake in shares of Steven Madden during the fourth quarter worth about $55,000. Quarry LP grew its holdings in shares of Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after buying an additional 339 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after buying an additional 1,657 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.
About Steven Madden
(
Get Free Report)
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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