Telsey Advisory Group Analysts Raise Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Investment analysts at Telsey Advisory Group increased their Q2 2024 earnings per share estimates for Steven Madden in a research note issued on Thursday, May 2nd. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will post earnings per share of $0.54 for the quarter, up from their previous estimate of $0.51. Telsey Advisory Group has a “Market Perform” rating and a $44.00 price target on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.62 per share. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.65 EPS, Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $1.02 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $2.98 EPS.

A number of other equities analysts have also recently weighed in on the company. Citigroup upped their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Wedbush upped their target price on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Piper Sandler began coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Williams Trading reiterated a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.38.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $39.59 on Monday. The firm has a 50-day simple moving average of $41.05 and a two-hundred day simple moving average of $40.10. Steven Madden has a fifty-two week low of $29.92 and a fifty-two week high of $45.63. The company has a market cap of $2.90 billion, a P/E ratio of 16.36 and a beta of 1.15.

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

Steven Madden Announces Dividend

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

Insider Activity at Steven Madden

In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now directly owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the business’s 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 transaction, the chief financial officer now directly owns 68,785 shares in the company, valued at approximately $2,865,583.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,346 shares of company stock valued at $2,464,841. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its position in shares of Steven Madden by 3.3% during the third quarter. Strs Ohio now owns 31,100 shares of the textile maker’s stock worth $988,000 after buying an additional 1,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Steven Madden by 1.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock valued at $1,092,000 after acquiring an additional 482 shares during the period. Advisor Partners II LLC acquired a new position in Steven Madden in the 3rd quarter valued at about $262,000. Allspring Global Investments Holdings LLC increased its stake in Steven Madden by 9.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,209,651 shares of the textile maker’s stock worth $38,431,000 after purchasing an additional 108,359 shares during the period. Finally, AlphaMark Advisors LLC acquired a new stake in shares of Steven Madden during the third quarter worth about $251,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.