Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for shares of Steven Madden in a research report issued on Tuesday. Jefferies Group analyst R. Konik now forecasts that the textile maker will post earnings per share of $2.40 for the year, up from their prior estimate of $2.35. Jefferies Group has a “Hold” rating and a $39.00 price target on the stock.
A number of other research firms have also recently commented on SHOO. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Zacks Investment Research raised Steven Madden from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Wedbush reissued a “buy” rating and set a $53.00 price target on shares of Steven Madden in a report on Tuesday, December 19th. ValuEngine cut Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a report on Thursday, November 30th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.86.
Steven Madden (NASDAQ SHOO) traded down $1.40 during trading on Thursday, hitting $45.40. The stock had a trading volume of 708,300 shares, compared to its average volume of 625,950. Steven Madden has a 12 month low of $33.50 and a 12 month high of $47.55. The firm has a market cap of $2,766.03, a PE ratio of 21.52, a P/E/G ratio of 1.58 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company had revenue of $441.19 million during the quarter, compared to analysts’ expectations of $441.03 million. During the same quarter in the previous year, the firm earned $0.74 EPS. Steven Madden’s revenue was up 8.0% on a year-over-year basis.
In related news, 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 sale, the president now owns 113,007 shares in the company, valued at approximately $4,834,439.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock worth $1,460,100 in the last 90 days. 2.06% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SHOO. Wells Fargo & Company MN grew its position in shares of Steven Madden by 386.5% in the 2nd quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock valued at $27,924,000 after buying an additional 555,283 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Steven Madden by 16.2% in the 2nd quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after buying an additional 314,205 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its position in shares of Steven Madden by 1,756.3% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock valued at $13,399,000 after buying an additional 292,785 shares during the last quarter. Samlyn Capital LLC bought a new stake in shares of Steven Madden in the 2nd quarter valued at about $7,820,000. Finally, APG Asset Management N.V. bought a new stake in shares of Steven Madden in the 3rd quarter valued at about $7,707,000. Institutional investors and hedge funds own 92.98% of the company’s stock.
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.
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