Steven Madden, Ltd. (NASDAQ:SHOO) Stock Has Average Price Target of $52.20 According to Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $51.70.

Several equities research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $45.00 target price (up from $40.00) on shares of Steven Madden in a research note on Friday, July 31st. Telsey Advisory Group lowered their price objective on Steven Madden from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, November 6th. Wall Street Zen raised Steven Madden from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Piper Sandler set a $55.00 target price on shares of Steven Madden and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, BTIG Research restated a “buy” rating and set a $55.00 target price on shares of Steven Madden in a research report on Tuesday, October 27th.

Steven Madden Price Performance

Steven Madden stock opened at $42.53 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.86. The firm has a market cap of $3.11 billion, a P/E ratio of 17.57 and a beta of 1.14. The business’s fifty day moving average is $43.65 and its two-hundred day moving average is $41.36. Steven Madden has a 52 week low of $31.33 and a 52 week high of $49.70.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 5th. The textile maker reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Steven Madden had a return on equity of 16.19% and a net margin of 6.16%. The company had revenue of $772.61 million during the quarter, compared to analyst estimates of $774.35 million. During the same period last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts forecast that Steven Madden will post 2.20 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Steven Madden’s dividend payout ratio is 34.71%.

Hedge Funds Weigh In On Steven Madden

Institutional investors have recently modified their holdings of the stock. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Steven Madden in the 2nd quarter valued at $49,890,563. Aberdeen Group plc raised its holdings in Steven Madden by 262.4% during the 3rd quarter. Aberdeen Group plc now owns 1,094,798 shares of the textile maker’s stock worth $49,014,000 after buying an additional 792,676 shares during the period. Vise Technologies Inc. acquired a new stake in Steven Madden during the 3rd quarter worth approximately $29,302,000. Bank of New York Mellon Corp bought a new position in Steven Madden in the second quarter valued at approximately $25,618,000. Finally, Dimensional Fund Advisors LP lifted its stake in Steven Madden by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock valued at $79,819,000 after buying an additional 99,066 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson. The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets. Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.