Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) traded up 14.8% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $23.39 and last traded at $23.11. 744,501 shares were traded during mid-day trading, a decline of 50% from the average session volume of 1,479,944 shares. The stock had previously closed at $20.13.
The textile maker reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. The company had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS.
Steven Madden Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. Steven Madden's dividend payout ratio (DPR) is presently 36.21%.
Analyst Upgrades and Downgrades
SHOO has been the topic of several recent analyst reports. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Loop Capital decreased their price target on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. UBS Group upped their price objective on Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Finally, Piper Sandler reduced their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Steven Madden has an average rating of "Hold" and a consensus price target of $32.00.
Get Our Latest Research Report on SHOO
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mariner LLC lifted its position in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after purchasing an additional 319 shares during the period. Moran Wealth Management LLC lifted its position in shares of Steven Madden by 1.6% in the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock worth $898,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. lifted its position in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after purchasing an additional 339 shares during the period. Tidal Investments LLC lifted its position in shares of Steven Madden by 2.4% in the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after purchasing an additional 409 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Steven Madden by 5.5% in the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after purchasing an additional 554 shares during the period. 99.88% of the stock is currently owned by institutional investors.
Steven Madden Stock Performance
The company's 50-day moving average price is $23.61 and its 200 day moving average price is $35.39. The stock has a market capitalization of $1.92 billion, a PE ratio of 11.24 and a beta of 1.04.
Steven Madden Company Profile
(
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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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