Steven Madden, Ltd. (NASDAQ:SHOO) – Research analysts at KeyCorp lifted their Q3 2018 earnings estimates for shares of Steven Madden in a research report issued to clients and investors on Wednesday. KeyCorp analyst E. Yruma now expects that the textile maker will earn $1.01 per share for the quarter, up from their previous forecast of $0.98. KeyCorp also issued estimates for Steven Madden’s Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.83 EPS.
A number of other analysts also recently issued reports on SHOO. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Tuesday. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, January 10th. Piper Jaffray Companies set a $51.00 price objective on shares of Steven Madden and gave the company a “buy” rating in a report on Monday, January 8th. Buckingham Research lowered their price objective on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $51.00 price objective (up from $44.00) on shares of Steven Madden in a report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Steven Madden has an average rating of “Buy” and a consensus price target of $49.13.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the business’s stock in a transaction on Monday, December 18th. The shares were 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 in the company, valued at $2,854,136.49. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the transaction, the president now owns 113,007 shares in the company, valued at $4,834,439.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,000 shares of company stock worth $1,384,000. 2.06% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SHOO. Carillon Tower Advisers Inc. acquired a new position in Steven Madden during the fourth quarter worth $54,097,000. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Steven Madden by 1,756.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock valued at $13,399,000 after purchasing an additional 292,785 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Steven Madden by 11.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,713,069 shares of the textile maker’s stock valued at $126,700,000 after purchasing an additional 269,647 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Steven Madden by 59.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 691,536 shares of the textile maker’s stock valued at $32,294,000 after purchasing an additional 257,393 shares during the last quarter. Finally, Emerald Advisers Inc. PA increased its holdings in shares of Steven Madden by 61.2% in the fourth quarter. Emerald Advisers Inc. PA now owns 639,344 shares of the textile maker’s stock valued at $29,857,000 after purchasing an additional 242,767 shares during the last quarter. Institutional investors and hedge funds own 93.12% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This story was published by BBNS and is the property of of BBNS. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://baseballnewssource.com/markets/q3-2018-earnings-estimate-for-steven-madden-ltd-shoo-issued-by-keycorp/1888131.html.
Steven Madden Company Profile
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.
Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.