Wedbush Equities Analysts Boost Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at Wedbush boosted their Q2 2024 EPS estimates for shares of Steven Madden in a research note issued to investors on Wednesday, May 1st. Wedbush analyst T. Nikic now forecasts that the textile maker will earn $0.51 per share for the quarter, up from their prior estimate of $0.50. Wedbush currently has a “Neutral” rating and a $38.00 target price on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.62 per share.

A number of other equities analysts have also issued reports on the company. Piper Sandler assumed coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Williams Trading reiterated a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. Citigroup boosted their price target on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Steven Madden has a consensus rating of “Hold” and an average price target of $41.38.

Steven Madden Stock Performance

Steven Madden stock opened at $40.49 on Monday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 16.73 and a beta of 1.15. The company has a 50-day simple moving average of $40.99 and a 200-day simple moving average of $40.15. Steven Madden has a one year low of $29.92 and a one year high of $45.63.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC lifted its position in shares of Steven Madden by 2.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 13,979 shares of the textile maker’s stock worth $444,000 after acquiring an additional 315 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Steven Madden by 5.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock worth $240,000 after buying an additional 363 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Steven Madden by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock valued at $1,092,000 after buying an additional 482 shares during the period. Yousif Capital Management LLC raised its stake in shares of Steven Madden by 1.8% in the 4th quarter. Yousif Capital Management LLC now owns 35,824 shares of the textile maker’s stock valued at $1,505,000 after buying an additional 634 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Steven Madden by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock worth $554,000 after acquiring an additional 761 shares during the period. 99.88% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now owns 5,751 shares in the company, valued at $242,289.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,346 shares of company stock worth $2,464,841. Insiders own 2.08% of the company’s stock.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be issued a $0.21 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. Steven Madden’s dividend payout ratio is currently 34.71%.

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.