Steven Madden (NASDAQ:SHOO) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $50.00 target price on the textile maker’s stock. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.54 EPS, FY2024 earnings at $2.67 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $3.04 EPS.

Several other equities analysts have also recently commented on the stock. Wedbush restated a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Citigroup boosted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Performance

NASDAQ SHOO opened at $43.23 on Wednesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 18.40 and a beta of 1.08. Steven Madden has a 1 year low of $35.64 and a 1 year high of $50.01. The business’s fifty day moving average is $46.43 and its two-hundred day moving average is $44.30.

Steven Madden (NASDAQ:SHOO) last announced its earnings results 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 company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same period in the previous year, the business earned $0.88 EPS. The company’s revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Steven Madden will post 2.65 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOO. Blue Trust Inc. boosted its stake in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares during the last quarter. Gladius Capital Management LP bought a new position in Steven Madden in the third quarter valued at $36,000. Exchange Traded Concepts LLC bought a new position in Steven Madden in the third quarter valued at $59,000. GAMMA Investing LLC grew its position in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Steven Madden in the 1st quarter valued at about $81,000. 99.88% of the stock is owned by institutional investors.

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.