Steven Madden, Ltd. (NASDAQ:SHOO) – Research analysts at KeyCorp dropped their Q1 2018 earnings per share estimates for shares of Steven Madden in a research note issued to investors on Wednesday, Zacks Investment Research reports. KeyCorp analyst E. Yruma now forecasts that the textile maker will post earnings of $0.55 per share for the quarter, down from their prior estimate of $0.56. KeyCorp also issued estimates for Steven Madden’s Q2 2018 earnings at $0.64 EPS.
Several other brokerages have also recently weighed in on SHOO. BidaskClub cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Telsey Advisory Group reissued an “outperform” rating and issued a $51.00 price target (up previously from $44.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Canaccord Genuity set a $52.00 price target on Steven Madden and gave the company a “buy” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, January 10th. Finally, Wedbush reissued a “buy” rating and issued a $53.00 price target on shares of Steven Madden in a research note on Tuesday, December 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Steven Madden presently has an average rating of “Buy” and an average target price of $49.29.
Shares of Steven Madden (NASDAQ:SHOO) traded down $1.05 during mid-day trading on Monday, hitting $45.00. The stock had a trading volume of 351,693 shares, compared to its average volume of 479,890. The firm has a market capitalization of $2,662.82, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.45 and a beta of 0.45. Steven Madden has a 12 month low of $35.55 and a 12 month high of $49.28.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. The company had revenue of $364.40 million during the quarter, compared to analysts’ expectations of $360.27 million. Steven Madden had a return on equity of 16.68% and a net margin of 7.63%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share.
A number of large investors have recently made changes to their positions in SHOO. Fortaleza Asset Management Inc. bought a new position in Steven Madden in the third quarter worth approximately $158,000. First Quadrant L P CA bought a new position in Steven Madden in the third quarter worth approximately $191,000. Public Employees Retirement System of Ohio boosted its holdings in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after acquiring an additional 415 shares in the last quarter. Worth Venture Partners LLC bought a new position in Steven Madden in the third quarter worth approximately $205,000. Finally, Wolverine Trading LLC boosted its holdings in Steven Madden by 311.2% in the fourth quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock worth $211,000 after acquiring an additional 3,423 shares in the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.
In related news, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the completion of the sale, 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 the SEC website. Company insiders own 2.06% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 9th. This represents a $0.80 annualized dividend and a yield of 1.78%. Steven Madden’s dividend payout ratio is currently 39.02%.
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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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