Jefferies Group LLC set a $39.00 price objective on Steven Madden, Ltd. (NASDAQ:SHOO) in a research report sent to investors on Tuesday. The firm currently has a hold rating on the textile maker’s stock. Jefferies Group also issued estimates for Steven Madden’s Q4 2017 earnings at $0.49 EPS and FY2018 earnings at $2.35 EPS.
SHOO has been the subject of several other research reports. Telsey Advisory Group restated an outperform rating and set a $45.00 price objective (up previously from $41.00) on shares of Steven Madden in a report on Tuesday, August 8th. Zacks Investment Research upgraded Steven Madden from a hold rating to a buy rating and set a $48.00 price objective for the company in a report on Friday, August 18th. B. Riley restated a buy rating and set a $47.00 price objective on shares of Steven Madden in a report on Tuesday, August 8th. BidaskClub downgraded Steven Madden from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Morgan Stanley boosted their price objective on Steven Madden from $38.00 to $41.50 and gave the company an equal weight rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Steven Madden currently has an average rating of Hold and a consensus price target of $43.96.
Steven Madden (NASDAQ:SHOO) traded down $0.05 during midday trading on Tuesday, hitting $38.40. The stock had a trading volume of 969,843 shares, compared to its average volume of 526,781. The stock has a market cap of $2,253.19, a P/E ratio of 16.92, a P/E/G ratio of 1.38 and a beta of 0.48.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. analysts predict that Steven Madden will post 2.22 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of SHOO. BlackRock Inc. boosted its position in Steven Madden by 148,882.3% in the first quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock worth $266,833,000 after purchasing an additional 6,917,070 shares during the last quarter. 1060 Capital LLC purchased a new position in Steven Madden in the second quarter worth $24,372,000. Wells Fargo & Company MN boosted its position in Steven Madden by 386.5% in the second quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock worth $27,924,000 after purchasing an additional 555,283 shares during the last quarter. Macquarie Group Ltd. boosted its position in Steven Madden by 16.2% in the second quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock worth $89,889,000 after purchasing an additional 314,205 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its position in Steven Madden by 1,756.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock worth $13,399,000 after purchasing an additional 292,785 shares during the last quarter. 91.15% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Company Profile
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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