Brokers Set Expectations for Steven Madden, Ltd.’s FY2017 Earnings (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at KeyCorp upped their FY2017 earnings per share estimates for Steven Madden in a note issued to investors on Wednesday. KeyCorp analyst E. Yruma now forecasts that the textile maker will earn $2.24 per share for the year, up from their previous estimate of $2.21. KeyCorp also issued estimates for Steven Madden’s Q4 2017 earnings at $0.49 EPS, Q2 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.62 EPS and FY2018 earnings at $2.81 EPS.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share.

A number of other brokerages have also commented on SHOO. Susquehanna Bancshares reissued a “buy” rating and set a $48.00 price target on shares of Steven Madden in a report on Monday, October 23rd. Zacks Investment Research lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Telsey Advisory Group reissued an “outperform” rating and set a $51.00 price target (up from $44.00) on shares of Steven Madden in a report on Tuesday, January 9th. ValuEngine lowered Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Buckingham Research lowered their price target on Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $48.21.

Steven Madden (SHOO) opened at $48.20 on Monday. The company has a market capitalization of $2,850.00, a price-to-earnings ratio of 22.95, a PEG ratio of 1.75 and a beta of 0.51. Steven Madden has a fifty-two week low of $33.50 and a fifty-two week high of $48.80.

In related news, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the transaction, the chief operating officer now owns 63,383 shares of the company’s stock, valued at approximately $2,854,136.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $42.78, for a total value of $1,069,500.00. Following the completion of the transaction, the president now directly owns 113,007 shares in the company, valued at approximately $4,834,439.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,000 shares of company stock worth $1,460,100. 2.06% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC increased its stake in Steven Madden by 97.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after purchasing an additional 1,262 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Steven Madden in the 3rd quarter worth about $158,000. First Quadrant L P CA purchased a new position in Steven Madden in the 3rd quarter worth about $191,000. Public Employees Retirement System of Ohio increased its stake in Steven Madden by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after purchasing an additional 415 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new position in Steven Madden in the 3rd quarter worth about $205,000. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

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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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