FY2018 EPS Estimates for Steven Madden, Ltd. (SHOO) Decreased by Analyst

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities researchers at Wedbush dropped their FY2018 earnings per share estimates for shares of Steven Madden in a research report issued to clients and investors on Wednesday. Wedbush analyst C. Svezia now anticipates that the textile maker will post earnings per share of $2.75 for the year, down from their previous estimate of $2.80. Wedbush currently has a “Buy” rating and a $53.00 target price on the stock.

Several other equities research analysts have also commented on the stock. Canaccord Genuity restated a “buy” rating and set a $50.00 target price on shares of Steven Madden in a research report on Tuesday, February 13th. BidaskClub downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Citigroup reiterated a “buy” rating and set a $56.00 price target on shares of Steven Madden in a research note on Tuesday, January 16th. Wells Fargo & Co set a $46.00 price target on Steven Madden and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.13.

Shares of Steven Madden (SHOO) traded up $0.15 during midday trading on Friday, hitting $43.45. 308,700 shares of the company’s stock traded hands, compared to its average volume of 457,641. The stock has a market cap of $2,559.17, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.55 and a beta of 0.41. Steven Madden has a 52 week low of $35.55 and a 52 week high of $49.28.

Institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its position in shares of Steven Madden by 8.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 96,491 shares of the textile maker’s stock valued at $3,855,000 after purchasing an additional 7,404 shares in the last quarter. State Street Corp lifted its stake in Steven Madden by 5.2% in the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock worth $60,144,000 after purchasing an additional 75,022 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Steven Madden by 9.1% in the second 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 during the last quarter. Shell Asset Management Co. bought a new stake in Steven Madden in the third quarter worth $2,320,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Steven Madden by 76.2% during the third quarter. Meeder Asset Management Inc. now owns 5,614 shares of the textile maker’s stock valued at $243,000 after acquiring an additional 2,428 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

In related news, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction that occurred 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 transaction, the president now directly owns 113,007 shares in the company, valued at approximately $4,834,439.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction that occurred 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 transaction, the chief operating officer now owns 63,383 shares of the company’s stock, valued at $2,854,136.49. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock worth $1,384,000 in the last ninety days. 2.06% of the stock is currently owned by insiders.

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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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