Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Rating of “Hold” from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $44.29.

SHOO has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd.

Steven Madden Trading Down 0.8 %

Shares of SHOO opened at $45.25 on Friday. The stock has a market cap of $3.32 billion, a P/E ratio of 18.70 and a beta of 1.08. The company has a 50-day moving average of $46.24 and a two-hundred day moving average of $43.72. Steven Madden has a 12-month low of $31.56 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 earnings per share. As a group, analysts forecast that Steven Madden will post 2.62 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.86%. Steven Madden’s payout ratio is 34.71%.

Institutional Investors Weigh In On Steven Madden

Several institutional investors have recently bought and sold shares of SHOO. Blue Trust Inc. grew its stake in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Steven Madden during the first quarter worth approximately $47,000. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden in the third quarter valued at $59,000. GAMMA Investing LLC boosted its stake in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of Steven Madden in the first quarter valued at $81,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.