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

Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for shares of Steven Madden in a research note issued to investors on Wednesday, May 1st. Wedbush analyst T. Nikic now expects that the textile maker will post earnings per share of $0.96 for the quarter, down from their prior estimate of $0.97. Wedbush has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.61 per share. Wedbush also issued estimates for Steven Madden’s Q4 2024 earnings at $0.50 EPS.

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

A number of other research analysts also recently weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research note on Friday, April 26th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Piper Sandler assumed coverage on Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective on the stock. Citigroup raised their price objective on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Williams Trading reaffirmed a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and an average target price of $41.38.

Steven Madden Stock Down 1.3 %

SHOO stock opened at $39.59 on Friday. The business’s fifty day moving average is $41.15 and its 200-day moving average is $39.96. The company has a market cap of $2.90 billion, a P/E ratio of 16.36 and a beta of 1.15. Steven Madden has a twelve month low of $29.92 and a twelve month high of $45.63.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, June 7th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insiders Place Their Bets

In other news, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares in the company, valued at $242,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. 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. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in Steven Madden during the fourth quarter valued at approximately $32,000. Fidelis Capital Partners LLC acquired a new position in Steven Madden during the first quarter valued at approximately $47,000. International Assets Investment Management LLC raised its position in Steven Madden by 4,100.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 1,599 shares in the last quarter. Covestor Ltd raised its position in Steven Madden by 32.9% during the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock valued at $169,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Steven Madden during the first quarter valued at approximately $170,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.