Wall Street analysts forecast that Steven Madden, Ltd. (NASDAQ:SHOO) will post earnings of $0.47 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Steven Madden’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.49. Steven Madden posted earnings of $0.49 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 4.1%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that Steven Madden will report full-year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.19 to $2.24. For the next financial year, analysts forecast that the firm will post earnings of $2.73 per share, with EPS estimates ranging from $2.45 to $2.85. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Steven Madden.
SHOO has been the topic of a number of recent analyst reports. Susquehanna Bancshares restated a “buy” rating and set a $48.00 target price on shares of Steven Madden in a report on Monday, October 23rd. BidaskClub cut Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Telsey Advisory Group restated an “outperform” rating and set a $51.00 target price (up previously from $44.00) on shares of Steven Madden in a report on Tuesday, January 9th. Buckingham Research reduced their target price on Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Finally, Canaccord Genuity set a $47.00 target price on Steven Madden and gave the stock a “buy” rating in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $49.13.
In other news, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the sale, the president now owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the sale, the chief operating officer now directly owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,000 shares of company stock worth $1,384,000. 2.06% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of Steven Madden by 8.6% during the third quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock worth $105,800,000 after purchasing an additional 193,391 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Steven Madden by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock worth $73,248,000 after purchasing an additional 37,264 shares during the period. Eagle Asset Management Inc. raised its position in shares of Steven Madden by 2.7% during the fourth quarter. Eagle Asset Management Inc. now owns 1,685,649 shares of the textile maker’s stock worth $78,404,000 after purchasing an additional 43,794 shares during the period. State Street Corp raised its position in shares of Steven Madden by 5.2% during the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock worth $60,144,000 after purchasing an additional 75,022 shares during the period. Finally, Boston Partners raised its position in shares of Steven Madden by 9.1% during the fourth quarter. Boston Partners now owns 1,222,193 shares of the textile maker’s stock worth $57,076,000 after purchasing an additional 102,310 shares during the period. 93.12% of the stock is currently owned by institutional investors.
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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