KeyCorp Analysts Cut Earnings Estimates for Steven Madden, Ltd. (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – KeyCorp dropped their Q1 2018 earnings per share (EPS) estimates for Steven Madden in a research report issued to clients and investors on Wednesday. KeyCorp analyst E. Yruma now expects that the textile maker will post earnings per share of $0.55 for the quarter, down from their previous estimate of $0.56. KeyCorp also issued estimates for Steven Madden’s Q2 2018 earnings at $0.64 EPS.

SHOO has been the subject of a number of other research reports. Piper Jaffray Companies set a $51.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research note on Monday, January 8th. Telsey Advisory Group cut their price target on shares of Steven Madden from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, November 1st. Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research note on Thursday, November 30th. Citigroup reissued a “buy” rating and issued a $56.00 price target on shares of Steven Madden in a research note on Tuesday, January 16th. Finally, Jefferies Group set a $39.00 price target on shares of Steven Madden and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $49.13.

Steven Madden (NASDAQ SHOO) opened at $43.65 on Monday. Steven Madden has a 12 month low of $35.55 and a 12 month high of $49.28. The company has a market cap of $2,580.00, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41.

Several institutional investors have recently made changes to their positions in SHOO. Fortaleza Asset Management Inc. purchased a new stake in shares of Steven Madden in the 3rd quarter valued at $158,000. First Quadrant L P CA bought a new stake in Steven Madden during the 3rd quarter valued at $191,000. Public Employees Retirement System of Ohio raised its holdings in Steven Madden by 9.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after buying an additional 415 shares during the last quarter. Worth Venture Partners LLC bought a new stake in Steven Madden during the 3rd quarter valued at $205,000. Finally, Wolverine Trading LLC raised its holdings in Steven Madden by 311.2% during the 4th quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock valued at $211,000 after buying an additional 3,423 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

In other news, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total value 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 approximately $4,834,439.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $1,384,000 in the last ninety days. 2.06% of the stock is owned by corporate insiders.

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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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