Research Analysts Issue Forecasts for Steven Madden, Ltd.’s Q1 2018 Earnings (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at KeyCorp increased their Q1 2018 earnings per share estimates for Steven Madden in a research note issued to investors on Wednesday. KeyCorp analyst E. Yruma now forecasts that the textile maker will earn $0.56 per share for the quarter, up from their prior estimate of $0.50. KeyCorp also issued estimates for Steven Madden’s Q3 2018 earnings at $0.98 EPS.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, hitting 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 net margin of 8.04% and a return on equity of 17.21%. Steven Madden’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday. Wells Fargo & Co set a $46.00 price target on shares of Steven Madden and gave the stock a “hold” rating in a research report on Thursday. Buckingham Research lowered their price target on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. B. Riley set a $47.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $48.21.

Steven Madden (SHOO) opened at $48.20 on Friday. Steven Madden has a 1 year low of $33.50 and a 1 year high of $48.80. The company has a market cap of $2,854.69, a PE ratio of 21.56, a P/E/G ratio of 1.82 and a beta of 0.51.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total value of $76,100.00. Following the transaction, the director now directly owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $45.03, for a total transaction of $292,695.00. Following the completion of the transaction, the chief operating officer now directly owns 63,383 shares in the company, valued at $2,854,136.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,000 shares of company stock worth $1,460,100. Insiders own 2.06% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its holdings in Steven Madden by 69.6% in the 3rd quarter. GSA Capital Partners LLP now owns 13,991 shares of the textile maker’s stock valued at $606,000 after buying an additional 5,740 shares during the period. Algert Global LLC bought a new position in Steven Madden in the 3rd quarter valued at about $455,000. Sterling Capital Management LLC increased its holdings in Steven Madden by 15.8% in the 3rd quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock valued at $1,900,000 after buying an additional 5,984 shares during the period. California Public Employees Retirement System increased its holdings in Steven Madden by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 133,655 shares of the textile maker’s stock valued at $5,787,000 after buying an additional 6,255 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Steven Madden in the 3rd quarter valued at about $639,000. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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