Wedbush Equities Analysts Decrease Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at Wedbush dropped their Q3 2024 EPS estimates for shares of Steven Madden in a report issued on Wednesday, May 1st. Wedbush analyst T. Nikic now forecasts that the textile maker will post earnings of $0.96 per share for the quarter, down from their prior forecast of $0.97. Wedbush has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.61 per share. Wedbush also issued estimates for Steven Madden’s Q4 2024 earnings at $0.50 EPS.

Several other analysts have also issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Piper Sandler initiated coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price target for the company. Citigroup upped their price target on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, Williams Trading restated a “hold” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.38.

Steven Madden Stock Down 1.3 %

NASDAQ SHOO opened at $39.59 on Friday. The company has a 50-day simple moving average of $41.15 and a two-hundred day simple moving average of $39.96. Steven Madden has a 12-month low of $29.92 and a 12-month high of $45.63. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 16.36 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. Steven Madden’s dividend payout ratio is currently 34.71%.

Insider Transactions at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Zine Mazouzi sold 7,246 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the transaction, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,346 shares of company stock worth $2,464,841. Company insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP increased its stake in shares of Steven Madden by 456.9% during the first quarter. GSA Capital Partners LLP now owns 34,017 shares of the textile maker’s stock valued at $1,438,000 after purchasing an additional 27,909 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Steven Madden in the first quarter worth approximately $170,000. Fidelis Capital Partners LLC bought a new stake in Steven Madden in the 1st quarter worth approximately $47,000. Principal Financial Group Inc. raised its stake in Steven Madden by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker’s stock valued at $16,371,000 after buying an additional 1,923 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Steven Madden by 4.8% during the 1st quarter. Raymond James & Associates now owns 110,938 shares of the textile maker’s stock valued at $4,690,000 after buying an additional 5,059 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.