Steven Madden (NASDAQ:SHOO) Stock Price Target Lowered at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its price objective reduced by Telsey Advisory Group from $55.00 to $50.00 in a research report sent to investors on Friday morning,Benzinga reports. Telsey Advisory Group currently has an outperform rating on the textile maker’s stock.

Other equities analysts also recently issued research reports about the company. Williams Trading set a $56.00 target price on Steven Madden in a research report on Monday, August 3rd. Weiss Ratings cut Steven Madden from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Steven Madden in a research note on Tuesday, October 27th. Wall Street Zen raised Steven Madden from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Finally, Needham & Company LLC decreased their price objective on Steven Madden from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.70.

Steven Madden Price Performance

SHOO stock opened at $39.50 on Friday. Steven Madden has a 52 week low of $31.33 and a 52 week high of $49.70. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $43.69 and a 200-day simple moving average of $41.38. The stock has a market capitalization of $2.89 billion, a P/E ratio of 16.32 and a beta of 1.14.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 5th. The textile maker reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Steven Madden had a net margin of 6.16% and a return on equity of 16.19%. The firm had revenue of $772.61 million for the quarter, compared to analyst estimates of $774.35 million. During the same period last year, the company posted $0.43 EPS. Steven Madden’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities analysts forecast that Steven Madden will post 2.20 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 11th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 11th. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in Steven Madden in the 2nd quarter valued at approximately $32,000. Reyes Financial Architecture Inc. purchased a new stake in Steven Madden in the third quarter valued at approximately $86,000. Public Employees Retirement System of Ohio acquired a new position in Steven Madden during the second quarter worth $95,000. Nykredit A S acquired a new position in Steven Madden during the second quarter worth $128,000. Finally, Versant Capital Management Inc boosted its position in shares of Steven Madden by 17.0% during the third quarter. Versant Capital Management Inc now owns 3,543 shares of the textile maker’s stock worth $159,000 after buying an additional 516 shares during the period. 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 footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson.

The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets.

Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.