Steven Madden (NASDAQ:SHOO) Upgraded at StockNews.com

StockNews.com upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a report released on Saturday morning.

Several other analysts have also recently commented on SHOO. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Citigroup raised their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Trading Down 1.0 %

Shares of SHOO opened at $42.79 on Friday. The business’s 50 day moving average is $46.41 and its 200 day moving average is $44.38. Steven Madden has a 12-month low of $36.23 and a 12-month high of $50.01. The company has a market capitalization of $3.09 billion, a PE ratio of 18.21 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. During the same quarter last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts predict that Steven Madden will post 2.65 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, December 13th. Steven Madden’s payout ratio is 35.74%.

Hedge Funds Weigh In On Steven Madden

Several large investors have recently modified their holdings of the stock. Gladius Capital Management LP bought a new stake in Steven Madden in the third quarter worth $36,000. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after acquiring an additional 825 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the 3rd quarter worth about $59,000. GAMMA Investing LLC boosted its stake in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Steven Madden during the 1st quarter valued at about $81,000. 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.