Steven Madden, Ltd. (NASDAQ:SHOO) – Investment analysts at B. Riley lifted their FY2017 earnings estimates for Steven Madden in a report issued on Tuesday, Zacks Investment Research reports. B. Riley analyst J. Van. Sinderen now forecasts that the textile maker will post earnings of $2.22 per share for the year, up from their previous estimate of $2.20. B. Riley has a “Buy” rating and a $52.00 price target on the stock. B. Riley also issued estimates for Steven Madden’s Q4 2017 earnings at $0.46 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.59 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.66 EPS.
Other analysts also recently issued reports about the company. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, January 10th. Buckingham Research cut their price objective on Steven Madden from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Canaccord Genuity set a $47.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Thursday, November 30th. Susquehanna Bancshares reissued a “buy” rating and set a $48.00 price objective on shares of Steven Madden in a research report on Monday, October 23rd. Finally, Piper Jaffray Companies set a $43.00 target price on Steven Madden and gave the company a “buy” rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Steven Madden has an average rating of “Buy” and an average price target of $49.13.
Shares of Steven Madden (NASDAQ SHOO) traded down $1.25 during trading hours on Thursday, hitting $44.95. The stock had a trading volume of 437,543 shares, compared to its average volume of 450,671. Steven Madden has a 52-week low of $33.53 and a 52-week high of $49.28. The stock has a market cap of $2,730.57 and a price-to-earnings ratio of 21.30.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm had revenue of $441.19 million for the quarter, compared to analyst estimates of $441.03 million. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue was up 8.0% on a year-over-year basis.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now owns 63,383 shares of the company’s stock, valued at $2,854,136.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction on 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 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. Insiders have sold 34,000 shares of company stock worth $1,460,100 in the last ninety days. 2.06% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SHOO. Riverhead Capital Management LLC boosted its position in Steven Madden by 97.1% during the second 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 during the third quarter worth about $158,000. First Quadrant L P CA purchased a new position in Steven Madden during the third quarter worth about $191,000. Public Employees Retirement System of Ohio lifted its position in Steven Madden by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after buying an additional 415 shares during the period. Finally, Worth Venture Partners LLC purchased a new position in Steven Madden during the third quarter worth about $205,000. Institutional investors own 92.92% 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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