Equities research analysts predict that Steven Madden, Ltd. (NASDAQ:SHOO) will announce $400.60 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Steven Madden’s earnings, with estimates ranging from $395.21 million to $406.10 million. Steven Madden posted sales of $364.37 million during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The company is scheduled to announce its next earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Steven Madden will report full-year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.65 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.74 billion, with estimates ranging from $1.73 billion to $1.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Steven Madden.
Several brokerages have recently weighed in on SHOO. Loop Capital upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, October 30th. Citigroup decreased their target price on shares of Steven Madden from $40.67 to $38.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Buckingham Research dropped their target price on shares of Steven Madden to $36.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. ValuEngine upgraded shares of Steven Madden from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Finally, BidaskClub raised shares of Steven Madden from a “sell” rating to a “hold” rating in a research report on Thursday, December 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $37.33.
In related news, Director Richard P. Randall sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $31.28, for a total transaction of $46,920.00. Following the transaction, the director now owns 22,070 shares of the company’s stock, valued at $690,349.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.77% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in shares of Steven Madden by 61.6% in the 4th quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock worth $25,000 after purchasing an additional 317 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Steven Madden by 41.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,292 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 378 shares during the last quarter. LS Investment Advisors LLC boosted its position in Steven Madden by 57.5% during the fourth quarter. LS Investment Advisors LLC now owns 2,548 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 930 shares during the last quarter. Edge Wealth Management LLC lifted its position in shares of Steven Madden by 143.8% in the fourth quarter. Edge Wealth Management LLC now owns 1,950 shares of the textile maker’s stock worth $59,000 after buying an additional 1,150 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its position in shares of Steven Madden by 40.5% during the 4th quarter. First Mercantile Trust Co. now owns 4,205 shares of the textile maker’s stock worth $127,000 after purchasing an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 68.47% of the company’s stock.
NASDAQ:SHOO traded up $0.36 during trading hours on Monday, hitting $33.92. 493,341 shares of the stock were exchanged, compared to its average volume of 440,179. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 1.64 and a beta of 0.63. Steven Madden has a twelve month low of $27.88 and a twelve month high of $39.30.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
Featured Story: How is a Moving Average Calculated?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.