Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at Wedbush boosted their FY2018 earnings per share (EPS) estimates for Steven Madden in a research note issued on Tuesday, Zacks Investment Research reports. Wedbush analyst C. Svezia now expects that the textile maker will earn $2.80 per share for the year, up from their previous estimate of $2.46. Wedbush has a “Buy” rating and a $53.00 price target on the stock.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. During the same period last year, the business posted $0.74 earnings per share. Steven Madden’s quarterly revenue was up 8.0% compared to the same quarter last year.
SHOO has been the subject of several other reports. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, September 28th. Piper Jaffray Companies set a $51.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a report on Monday, January 8th. Telsey Advisory Group lowered their price objective on shares of Steven Madden from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, November 1st. Susquehanna Bancshares restated a “buy” rating and issued a $48.00 price objective on shares of Steven Madden in a report on Tuesday, November 7th. Finally, ValuEngine downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $48.21.
Shares of Steven Madden (SHOO) opened at $48.20 on Thursday. 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 22.84, a price-to-earnings-growth ratio of 1.82 and a beta of 0.51.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its position in shares of Steven Madden by 97.1% during the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after acquiring an additional 1,262 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after acquiring an additional 60 shares in the last quarter. Fortaleza Asset Management Inc. bought a new stake in shares of Steven Madden during the third quarter valued at approximately $158,000. First Quadrant L P CA bought a new stake in shares of Steven Madden during the third quarter valued at approximately $191,000. Finally, Worth Venture Partners LLC bought a new stake in shares of Steven Madden during the third quarter valued at approximately $205,000. 92.98% of the stock is owned by institutional investors.
In related news, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the sale, the president now owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard P. Randall sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now directly owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The disclosure for this sale can be found here. Insiders have sold 34,000 shares of company stock valued at $1,460,100 in the last ninety days. Insiders own 2.06% of the company’s stock.
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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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