Steven Madden (NASDAQ:SHOO) Rating Reiterated by B. Riley

B. Riley reaffirmed their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Tuesday, January 9th, Marketbeat.com reports. B. Riley currently has a $52.00 price target on the textile maker’s stock, up from their previous price target of $47.00. B. Riley also issued estimates for Steven Madden’s Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $2.22 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.94 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.66 EPS.

Several other analysts also recently commented on SHOO. Zacks Investment Research downgraded shares of Steven Madden from a buy rating to a hold rating in a research report on Thursday, September 14th. ValuEngine downgraded shares of Steven Madden from a buy rating to a hold rating in a research report on Thursday, October 5th. Susquehanna Bancshares reiterated a buy rating and issued a $48.00 price target on shares of Steven Madden in a report on Monday, October 23rd. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the company a buy rating in a report on Tuesday, October 24th. Finally, Piper Jaffray Companies set a $43.00 price target on shares of Steven Madden and gave the company a buy rating in a report on Tuesday, October 31st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Steven Madden presently has an average rating of Buy and an average target price of $49.13.

Shares of Steven Madden (NASDAQ SHOO) opened at $48.20 on Tuesday. Steven Madden has a fifty-two week low of $33.50 and a fifty-two week high of $48.80. The stock has a market cap of $2,848.78, a P/E ratio of 22.84, a P/E/G ratio of 1.75 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. analysts forecast that Steven Madden will post 2.23 earnings per share for the current fiscal year.

In related news, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the transaction, the president now directly owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at $2,854,136.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,000 shares of company stock worth $1,460,100. Insiders own 2.06% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SHOO. Macquarie Group Ltd. boosted its position in Steven Madden by 8.6% in the 3rd quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock valued at $105,800,000 after buying an additional 193,391 shares during the period. Dimensional Fund Advisors LP boosted its position in Steven Madden by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock valued at $73,248,000 after buying an additional 37,264 shares during the period. Eagle Asset Management Inc. boosted its position in Steven Madden by 0.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,641,855 shares of the textile maker’s stock valued at $70,681,000 after buying an additional 8,679 shares during the period. State Street Corp boosted its position in Steven Madden by 5.2% in the 2nd quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock valued at $60,144,000 after buying an additional 75,022 shares during the period. Finally, Royal Bank of Canada boosted its position in Steven Madden by 2.0% in the 2nd quarter. Royal Bank of Canada now owns 1,177,884 shares of the textile maker’s stock valued at $47,056,000 after buying an additional 23,334 shares during the period. 92.98% of the stock is owned by hedge funds and other institutional investors.

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About Steven Madden

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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