Research Analysts Offer Predictions for Steven Madden, Ltd.’s Q4 2023 Earnings (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Investment analysts at Wedbush reduced their Q4 2023 earnings estimates for shares of Steven Madden in a research report issued to clients and investors on Wednesday, November 8th. Wedbush analyst T. Nikic now expects that the textile maker will post earnings of $0.57 per share for the quarter, down from their prior estimate of $0.68. The consensus estimate for Steven Madden’s current full-year earnings is $2.40 per share. Wedbush also issued estimates for Steven Madden’s Q1 2024 earnings at $0.54 EPS.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $552.73 million for the quarter, compared to the consensus estimate of $548.98 million. Steven Madden had a net margin of 8.68% and a return on equity of 20.30%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS.

SHOO has been the subject of several other research reports. UBS Group boosted their price target on shares of Steven Madden from $35.00 to $37.00 in a report on Thursday, August 3rd. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $39.00 price target on shares of Steven Madden in a report on Tuesday, October 24th. Citigroup boosted their price target on shares of Steven Madden from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, BTIG Research restated a “buy” rating and issued a $40.00 target price on shares of Steven Madden in a report on Tuesday, September 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and an average target price of $37.80.

Steven Madden Stock Down 0.5 %

Shares of SHOO opened at $33.30 on Monday. Steven Madden has a fifty-two week low of $29.92 and a fifty-two week high of $37.85. The firm’s 50 day moving average price is $32.54 and its 200 day moving average price is $32.98. The company has a market cap of $2.51 billion, a P/E ratio of 14.93 and a beta of 1.09.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.84 annualized dividend and a yield of 2.52%. Steven Madden’s dividend payout ratio (DPR) is 37.67%.

Institutional Trading of Steven Madden

Several institutional investors and hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC raised its position in Steven Madden by 83.9% during the 1st quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker’s stock worth $36,000 after buying an additional 455 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its position in Steven Madden by 312.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock worth $49,000 after buying an additional 1,168 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Steven Madden during the 2nd quarter worth $55,000. Dark Forest Capital Management LP purchased a new position in Steven Madden during the 1st quarter worth $56,000. Finally, Bessemer Group Inc. purchased a new position in Steven Madden during the 1st quarter worth $79,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, First Cost, and Licensing segments.