Wedbush Brokers Raise Earnings Estimates for Steven Madden, Ltd. (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Analysts at Wedbush upped their FY2017 EPS estimates for Steven Madden in a research note issued on Wednesday. Wedbush analyst C. Svezia now expects that the textile maker will post earnings of $2.23 per share for the year, up from their previous estimate of $2.21. Wedbush has a “Buy” rating and a $53.00 price target on the stock. Wedbush also issued estimates for Steven Madden’s Q4 2017 earnings at $0.48 EPS.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a report on Tuesday, February 13th. BidaskClub cut Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Citigroup reiterated a “buy” rating and issued a $56.00 price target on shares of Steven Madden in a report 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 report 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 on the stock in a report on Wednesday, January 10th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $49.13.

Steven Madden (NASDAQ:SHOO) opened at $43.45 on Thursday. The stock has a market capitalization of $2,579.86, a PE ratio of 20.59, a P/E/G ratio of 1.55 and a beta of 0.41. Steven Madden has a 1-year low of $35.55 and a 1-year high of $49.28.

In other Steven Madden news, COO Awadhesh K. Sinha sold 6,500 shares of the 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 $2,854,136.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Amelia Varela sold 25,000 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $1,384,000 in the last three months. Insiders own 2.06% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. lifted its stake in Steven Madden by 8.6% in the third quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock valued at $105,800,000 after buying an additional 193,391 shares during the period. Kiwi Wealth Investments Limited Partnership lifted its stake in Steven Madden by 21.7% in the third quarter. Kiwi Wealth Investments Limited Partnership now owns 42,638 shares of the textile maker’s stock valued at $1,846,000 after buying an additional 7,595 shares during the period. Old Mutual Global Investors UK Ltd. lifted its stake in Steven Madden by 1,756.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock valued at $13,399,000 after buying an additional 292,785 shares during the period. Stifel Financial Corp lifted its stake in Steven Madden by 7.1% in the third quarter. Stifel Financial Corp now owns 244,585 shares of the textile maker’s stock valued at $10,630,000 after buying an additional 16,131 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Steven Madden by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 444,477 shares of the textile maker’s stock valued at $19,246,000 after buying an additional 39,385 shares during the period. 93.60% 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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