Steven Madden, Ltd. (NASDAQ:SHOO) Receives $34.53 Consensus Target Price from Analysts

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Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $34.59.

Several analysts have recently commented on the stock. B. Riley reaffirmed a “buy” rating on shares of Skechers USA in a report on Friday, April 26th. Canaccord Genuity set a $107.00 price objective on shares of Columbia Sportswear and gave the company a “hold” rating in a report on Friday, April 26th. ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. BidaskClub raised shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of Tupperware Brands from a “hold” rating to a “sell” rating in a report on Thursday.

NASDAQ:SHOO traded down $0.01 during trading hours on Friday, hitting $32.96. 14,493 shares of the company were exchanged, compared to its average volume of 498,635. The stock has a market cap of $2.87 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82. Steven Madden has a 52-week low of $27.88 and a 52-week high of $39.30. The company’s 50 day moving average is $32.43.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. The company had revenue of $410.90 million for the quarter, compared to the consensus estimate of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. Steven Madden’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, research analysts forecast that Steven Madden will post 1.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Tuesday, June 18th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, June 17th. Steven Madden’s dividend payout ratio is currently 30.60%.

In related news, Director Robert Garrett Smith sold 9,267 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $31.00, for a total value of $287,277.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Paradise sold 2,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total transaction of $71,980.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,417 shares of company stock valued at $567,204. Company insiders own 1.96% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SHOO. Norges Bank acquired a new position in shares of Steven Madden in the 4th quarter valued at $41,764,000. Macquarie Group Ltd. raised its position in Steven Madden by 56.1% during the fourth quarter. Macquarie Group Ltd. now owns 3,600,261 shares of the textile maker’s stock worth $108,949,000 after acquiring an additional 1,293,591 shares during the period. FMR LLC raised its position in Steven Madden by 54.3% during the fourth quarter. FMR LLC now owns 3,120,538 shares of the textile maker’s stock worth $94,428,000 after acquiring an additional 1,097,757 shares during the period. Dimensional Fund Advisors LP raised its position in Steven Madden by 50.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,470,104 shares of the textile maker’s stock worth $74,745,000 after acquiring an additional 828,499 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Steven Madden by 79.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,271,726 shares of the textile maker’s stock worth $38,482,000 after acquiring an additional 561,344 shares during the period. Hedge funds and other institutional investors own 95.87% of the company’s stock.

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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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