Jefferies Financial Group Brokers Raise Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) – Jefferies Financial Group increased their Q4 2022 earnings per share (EPS) estimates for Steven Madden in a report released on Wednesday, July 27th. Jefferies Financial Group analyst C. Tarlowe now anticipates that the textile maker will post earnings of $0.67 per share for the quarter, up from their previous forecast of $0.65. The consensus estimate for Steven Madden’s current full-year earnings is $3.00 per share. Jefferies Financial Group also issued estimates for Steven Madden’s Q1 2023 earnings at $0.79 EPS, Q2 2023 earnings at $0.70 EPS, Q4 2023 earnings at $0.70 EPS and FY2023 earnings at $3.06 EPS.
Several other equities analysts also recently issued reports on SHOO. Loop Capital cut their price objective on shares of Steven Madden from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. UBS Group cut their price objective on shares of Steven Madden from $45.00 to $37.00 in a report on Friday, July 15th. Wedbush cut their price objective on shares of Steven Madden from $55.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, June 9th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday. Finally, BTIG Research dropped their target price on Steven Madden from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.89.
Steven Madden Stock Performance
Shares of Steven Madden stock opened at $31.70 on Monday. Steven Madden has a one year low of $31.06 and a one year high of $51.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.84 and a current ratio of 2.51. The company has a market capitalization of $2.53 billion, a PE ratio of 10.50 and a beta of 1.13. The company has a 50-day simple moving average of $34.47 and a two-hundred day simple moving average of $38.37.
Steven Madden (NASDAQ:SHOO – Get Rating) last announced its earnings results on Wednesday, July 27th. The textile maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $532.68 million during the quarter, compared to the consensus estimate of $491.80 million. Steven Madden had a net margin of 11.82% and a return on equity of 30.75%. The firm’s revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Steven Madden by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,512,437 shares of the textile maker’s stock valued at $328,921,000 after buying an additional 98,155 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Steven Madden by 9.4% during the 1st quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock valued at $290,941,000 after buying an additional 648,822 shares in the last quarter. State Street Corp lifted its position in shares of Steven Madden by 3.2% during the 1st quarter. State Street Corp now owns 2,624,652 shares of the textile maker’s stock valued at $101,417,000 after buying an additional 80,513 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Steven Madden by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,442,956 shares of the textile maker’s stock valued at $67,054,000 after purchasing an additional 192,403 shares during the last quarter. Finally, Boston Partners raised its stake in Steven Madden by 12.4% in the 1st quarter. Boston Partners now owns 1,315,467 shares of the textile maker’s stock valued at $50,648,000 after purchasing an additional 144,914 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Insiders Place Their Bets
In other Steven Madden news, Director Robert Garrett Smith sold 2,222 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $38.96, for a total value of $86,569.12. Following the sale, the director now owns 8,500 shares in the company, valued at approximately $331,160. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.
Steven Madden Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 16th will be given a $0.21 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.84 annualized dividend and a yield of 2.65%. Steven Madden’s dividend payout ratio is presently 27.81%.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider Steven Madden, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Steven Madden wasn’t on the list.
While Steven Madden currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.