Equities research analysts forecast that Steven Madden, Ltd. (NASDAQ:SHOO) will post $358.34 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Steven Madden’s earnings. The lowest sales estimate is $355.40 million and the highest is $361.20 million. Steven Madden posted sales of $336.41 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Steven Madden will report full year sales of $358.34 million for the current financial year, with estimates ranging from $1.54 billion to $1.55 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.62 billion per share, with estimates ranging from $1.59 billion to $1.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Steven Madden.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $441.19 million during the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. Steven Madden’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share.
A number of analysts recently commented on the company. B. Riley reiterated a “buy” rating and set a $47.00 price objective on shares of Steven Madden in a research report on Tuesday, August 8th. Zacks Investment Research cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Canaccord Genuity set a $47.00 price objective on Steven Madden and gave the company a “buy” rating in a research report on Wednesday, August 9th. Buckingham Research upped their price objective on Steven Madden from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $39.00 price objective (up previously from $37.00) on shares of Steven Madden in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $43.96.
TRADEMARK VIOLATION WARNING: “Steven Madden, Ltd. (SHOO) Expected to Announce Quarterly Sales of $358.34 Million” was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://transcriptdaily.com/2017/11/18/steven-madden-ltd-shoo-expected-to-announce-quarterly-sales-of-358-34-million.html.
In other news, Director Richard P. Randall sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the completion of the transaction, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.06% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in shares of Steven Madden in the third quarter worth about $455,000. Sterling Capital Management LLC boosted its stake in shares of Steven Madden by 15.8% in the third quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock worth $1,900,000 after acquiring an additional 5,984 shares during the period. California Public Employees Retirement System boosted its stake in shares of Steven Madden by 4.9% in the third quarter. California Public Employees Retirement System now owns 133,655 shares of the textile maker’s stock worth $5,787,000 after acquiring an additional 6,255 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Steven Madden in the third quarter worth about $639,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Steven Madden in the third quarter worth about $242,000. 91.68% of the stock is owned by hedge funds and other institutional investors.
Steven Madden (NASDAQ:SHOO) traded up $0.45 during trading on Friday, reaching $39.30. The company had a trading volume of 782,826 shares, compared to its average volume of 545,143. The stock has a market capitalization of $2,320.00, a PE ratio of 17.34, a PEG ratio of 1.47 and a beta of 0.48. Steven Madden has a 12 month low of $33.50 and a 12 month high of $44.40.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Steven Madden Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.