Steven Madden (NASDAQ:SHOO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on SHOO. Williams Trading set a $48.00 price objective on Steven Madden in a research report on Tuesday. Needham & Company LLC cut their price objective on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. BTIG Research reaffirmed a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Finally, UBS Group reiterated a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.00.

Steven Madden Stock Performance

Shares of SHOO stock opened at $34.04 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88. The stock has a 50 day moving average price of $40.55 and a two-hundred day moving average price of $37.90. The company has a market capitalization of $2.48 billion, a P/E ratio of 54.90 and a beta of 1.13.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million during the quarter, compared to analyst estimates of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, March 11th. Steven Madden’s dividend payout ratio (DPR) is presently 135.48%.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently bought and sold shares of SHOO. MidFirst Bank purchased a new stake in shares of Steven Madden during the 4th quarter valued at about $217,000. Invesco Ltd. lifted its position in Steven Madden by 15.2% during the fourth quarter. Invesco Ltd. now owns 2,784,943 shares of the textile maker’s stock valued at $115,965,000 after purchasing an additional 367,459 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Steven Madden in the fourth quarter worth approximately $214,000. Summit Global Investments bought a new stake in Steven Madden in the 4th quarter worth approximately $212,000. Finally, EP Wealth Advisors LLC bought a new stake in Steven Madden in the 4th quarter worth approximately $390,000. Institutional investors own 99.88% of the company’s stock.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.