Equities Analysts Offer Predictions for Steven Madden, Ltd.’s Q2 2024 Earnings (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at Telsey Advisory Group lifted their Q2 2024 earnings per share (EPS) estimates for shares of Steven Madden in a research report issued to clients and investors on Thursday, May 2nd. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.51. Telsey Advisory Group has a “Market Perform” rating and a $44.00 price target on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.62 per share. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.65 EPS, Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $1.02 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $2.98 EPS.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. The business had revenue of $552.38 million during 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 period in the previous year, the company posted $0.50 EPS.

SHOO has been the subject of several other reports. Piper Sandler assumed coverage on Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price target for the company. Wedbush lifted their price objective on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Williams Trading reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, February 21st. Citigroup lifted their price objective on Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.38.

Steven Madden Price Performance

SHOO opened at $40.61 on Monday. The business has a fifty day simple moving average of $40.93 and a 200 day simple moving average of $40.21. The company has a market capitalization of $2.98 billion, a PE ratio of 16.78 and a beta of 1.15. Steven Madden has a 1 year low of $29.92 and a 1 year high of $45.63.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.07%. Steven Madden’s dividend payout ratio (DPR) is currently 34.71%.

Insider Transactions at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total transaction of $301,868.36. Following the completion of the transaction, the chief financial officer now owns 68,785 shares of the company’s stock, valued at approximately $2,865,583.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,346 shares of company stock valued at $2,464,841. Corporate insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors and hedge funds have recently bought and sold shares of SHOO. Strs Ohio increased its holdings in Steven Madden by 3.3% in the 3rd quarter. Strs Ohio now owns 31,100 shares of the textile maker’s stock worth $988,000 after purchasing an additional 1,000 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 worth $1,092,000 after purchasing an additional 482 shares in the last quarter. Advisor Partners II LLC acquired a new position in Steven Madden in the 3rd quarter worth about $262,000. Allspring Global Investments Holdings LLC increased its holdings in Steven Madden by 9.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,209,651 shares of the textile maker’s stock worth $38,431,000 after purchasing an additional 108,359 shares in the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in Steven Madden in the 3rd quarter worth about $251,000. Institutional investors and hedge funds 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.