Analysts forecast that Steven Madden, Ltd. (NASDAQ:SHOO) will report sales of $363.50 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Steven Madden’s earnings, with estimates ranging from $361.20 million to $364.40 million. Steven Madden posted sales of $336.41 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The firm is scheduled to report its next earnings report before the market opens on Tuesday, February 27th.
On average, analysts expect that Steven Madden will report full year sales of $363.50 million for the current fiscal year. For the next fiscal year, analysts expect that the firm will report sales of $1.63 billion per share, with estimates ranging from $1.61 billion to $1.66 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Steven Madden.
Several equities analysts have recently weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research note on Tuesday, February 13th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, January 10th. Piper Jaffray Companies set a $51.00 price objective on Steven Madden and gave the company a “buy” rating in a research note on Monday, January 8th. Buckingham Research reduced their price objective on Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $51.00 price objective (up from $44.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Steven Madden currently has an average rating of “Buy” and a consensus price target of $49.13.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the business’s stock in a transaction that occurred 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 directly owns 63,383 shares of the company’s stock, valued at approximately $2,854,136.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction that occurred 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 $4,834,439.46. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $1,384,000 over the last three months. 2.06% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of SHOO. Carillon Tower Advisers Inc. purchased a new stake in Steven Madden during the 4th quarter worth approximately $54,097,000. Old Mutual Global Investors UK Ltd. increased its holdings in Steven Madden by 1,756.3% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock worth $13,399,000 after purchasing an additional 292,785 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Steven Madden by 11.0% during the 4th quarter. Macquarie Group Ltd. now owns 2,713,069 shares of the textile maker’s stock worth $126,700,000 after purchasing an additional 269,647 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Steven Madden by 59.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 691,536 shares of the textile maker’s stock worth $32,294,000 after purchasing an additional 257,393 shares during the last quarter. Finally, Emerald Advisers Inc. PA increased its holdings in Steven Madden by 61.2% during the 4th quarter. Emerald Advisers Inc. PA now owns 639,344 shares of the textile maker’s stock worth $29,857,000 after purchasing an additional 242,767 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.
Steven Madden (NASDAQ SHOO) traded up $0.90 during midday trading on Monday, hitting $44.00. The stock had a trading volume of 849,200 shares, compared to its average volume of 466,464. The firm has a market cap of $2,600.54, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.56 and a beta of 0.41. Steven Madden has a fifty-two week low of $35.55 and a fifty-two week high of $49.28.
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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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