Equities research analysts forecast that Steven Madden, Ltd. (NASDAQ:SHOO) will report sales of $397.59 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Steven Madden’s earnings, with estimates ranging from $387.30 million to $406.10 million. Steven Madden posted sales of $364.37 million during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 26th.
On average, analysts expect that Steven Madden will report full year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.64 billion to $1.65 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.74 billion, with estimates ranging from $1.73 billion to $1.76 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Steven Madden.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.04. The company had revenue of $458.48 million for the quarter, compared to analysts’ expectations of $472.80 million. Steven Madden had a return on equity of 18.05% and a net margin of 8.79%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share.
SHOO has been the topic of several research reports. Wedbush cut Steven Madden from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $34.00 to $36.67 in a report on Wednesday, July 11th. They noted that the move was a valuation call. BidaskClub cut Steven Madden from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Zacks Investment Research cut Steven Madden from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Canaccord Genuity set a $39.33 price target on Steven Madden and gave the stock a “buy” rating in a report on Monday, July 30th. Finally, Loop Capital restated a “hold” rating and set a $36.00 price target on shares of Steven Madden in a report on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $37.52.
In related news, Director Rose Peabody Lynch sold 2,500 shares of Steven Madden stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $57.27, for a total value of $143,175.00. Following the transaction, the director now directly owns 7,103 shares of the company’s stock, valued at $406,788.81. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Karla Frieders sold 7,000 shares of Steven Madden stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $56.89, for a total value of $398,230.00. Following the completion of the transaction, the insider now directly owns 75,280 shares in the company, valued at $4,282,679.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,500 shares of company stock worth $771,405. 1.77% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc lifted its stake in shares of Steven Madden by 81.8% in the second 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 period. Itau Unibanco Holding S.A. acquired a new position in shares of Steven Madden in the second quarter worth approximately $113,000. WINTON GROUP Ltd acquired a new position in shares of Steven Madden in the second quarter worth approximately $213,000. CIBC Asset Management Inc acquired a new position in shares of Steven Madden in the second quarter worth approximately $226,000. Finally, Strs Ohio lifted its stake in shares of Steven Madden by 27.0% in the second 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 period. 63.95% of the stock is currently owned by institutional investors.
NASDAQ:SHOO opened at $32.41 on Friday. The stock has a market cap of $2.84 billion, a PE ratio of 21.75, a PEG ratio of 1.70 and a beta of 0.66. Steven Madden has a 1-year low of $24.90 and a 1-year high of $39.30.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 21st will be paid a $0.14 dividend. 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 dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 20th. Steven Madden’s payout ratio is currently 35.57%.
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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