Steven Madden, Ltd. (NASDAQ:SHOO) – Analysts at Piper Jaffray Companies cut their Q4 2018 earnings per share (EPS) estimates for Steven Madden in a note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst E. Murphy now expects that the textile maker will earn $0.37 per share for the quarter, down from their prior forecast of $0.41. Piper Jaffray Companies also issued estimates for Steven Madden’s Q3 2019 earnings at $0.71 EPS, Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.93 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.48 EPS and Q3 2020 earnings at $0.78 EPS.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 30th. The textile maker reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. Steven Madden had a return on equity of 18.05% and a net margin of 8.79%. The company had revenue of $458.48 million for the quarter, compared to analyst estimates of $472.80 million. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 3.9% compared to the same quarter last year.
Other equities research analysts have also issued reports about the company. Canaccord Genuity set a $39.33 price objective on Steven Madden and gave the company a “buy” rating in a research note on Monday, July 30th. BidaskClub lowered Steven Madden from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. B. Riley set a $38.67 price objective on Steven Madden and gave the company a “buy” rating in a research note on Wednesday, August 1st. Buckingham Research upped their price objective on Steven Madden from $36.00 to $41.33 and gave the company a “buy” rating in a research note on Thursday, August 16th. Finally, Citigroup lowered their price objective on Steven Madden from $40.67 to $38.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Steven Madden has an average rating of “Hold” and a consensus price target of $37.52.
SHOO stock opened at $32.41 on Thursday. Steven Madden has a 1-year low of $24.90 and a 1-year high of $39.30. The company has a market capitalization of $2.81 billion, a PE ratio of 21.73, a P/E/G ratio of 1.69 and a beta of 0.53.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 21st will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, December 20th. This is a positive change from Steven Madden’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.73%. Steven Madden’s dividend payout ratio is 35.57%.
In related news, Director Rose Peabody Lynch sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $57.27, for a total transaction of $143,175.00. Following the sale, the director now directly owns 7,103 shares in the company, valued at approximately $406,788.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Awadhesh K. Sinha sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total value of $230,000.00. Following the sale, the chief operating officer now owns 57,845 shares in the company, valued at $3,326,087.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,500 shares of company stock worth $771,405. 1.77% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc grew its position in Steven Madden by 81.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock worth $108,000 after acquiring an additional 900 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Steven Madden during the 2nd quarter worth approximately $113,000. WINTON GROUP Ltd bought a new stake in Steven Madden during the 2nd quarter worth approximately $213,000. CIBC Asset Management Inc bought a new stake in Steven Madden during the 2nd quarter worth approximately $226,000. Finally, Strs Ohio grew its position in Steven Madden by 27.0% during the 2nd quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock worth $249,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.
About Steven 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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