Wall Street brokerages expect that Steve Madden (NASDAQ:SHOO) will report $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Steve Madden’s earnings, with estimates ranging from $0.42 to $0.51. Steve Madden posted earnings of $0.47 per share in the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The business is scheduled to announce its next earnings results on Friday, April 20th.
According to Zacks, analysts expect that Steve Madden will report full year earnings of $2.69 per share for the current year, with EPS estimates ranging from $2.63 to $2.80. For the next financial year, analysts expect that the firm will post earnings of $2.92 per share, with EPS estimates ranging from $2.84 to $3.04. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Steve Madden.
Steve Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Steve Madden had a net margin of 7.63% and a return on equity of 16.68%. The company had revenue of $364.40 million for the quarter, compared to the consensus estimate of $360.27 million. During the same period in the previous year, the firm earned $0.49 EPS. Steve Madden’s revenue was up 8.3% on a year-over-year basis.
Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of Steve Madden from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub raised shares of Steve Madden from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity set a $50.00 price objective on shares of Steve Madden and gave the stock a “buy” rating in a research note on Sunday, January 7th. Zacks Investment Research raised shares of Steve 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. Finally, B. Riley reaffirmed a “buy” rating on shares of Steve Madden in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Steve Madden currently has an average rating of “Buy” and a consensus price target of $49.29.
In other news, CEO Edward R. Rosenfeld sold 33,000 shares of Steve Madden stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $45.82, for a total value of $1,512,060.00. Following the transaction, the chief executive officer now directly owns 515,200 shares of the company’s stock, valued at $23,606,464. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.06% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in shares of Steve Madden by 11.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,713,069 shares of the textile maker’s stock worth $126,700,000 after acquiring an additional 269,647 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Steve Madden by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock worth $73,248,000 after acquiring an additional 37,264 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Steve Madden by 2.7% in the fourth quarter. Eagle Asset Management Inc. now owns 1,685,649 shares of the textile maker’s stock worth $78,404,000 after acquiring an additional 43,794 shares in the last quarter. Boston Partners increased its position in shares of Steve Madden by 9.1% in the fourth quarter. Boston Partners now owns 1,222,193 shares of the textile maker’s stock worth $57,076,000 after acquiring an additional 102,310 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new position in shares of Steve Madden in the fourth quarter worth approximately $54,097,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of SHOO traded down $0.60 during mid-day trading on Monday, hitting $46.05. The company’s stock had a trading volume of 447,219 shares, compared to its average volume of 432,653. The stock has a market capitalization of $2,742.18, a P/E ratio of 20.92, a P/E/G ratio of 1.50 and a beta of 0.47. Steve Madden has a fifty-two week low of $35.55 and a fifty-two week high of $49.28.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 12th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, March 9th. Steve Madden’s dividend payout ratio (DPR) is currently 35.71%.
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About Steve Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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