UBS Group Issues Positive Forecast for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its price objective lifted by UBS Group from $23.00 to $26.00 in a report published on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the textile maker’s stock.

A number of other research analysts have also recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price target on shares of Steven Madden in a research report on Wednesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. Piper Sandler dropped their price objective on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Citigroup upgraded Steven Madden from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $32.00 in a research report on Thursday, July 17th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.50.

Steven Madden Stock Up 0.5%

Shares of SHOO stock opened at $27.00 on Monday. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The stock has a market cap of $1.96 billion, a P/E ratio of 11.64 and a beta of 1.10. The business has a fifty day simple moving average of $25.05 and a 200-day simple moving average of $28.14.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The business had revenue of $551.38 million during the quarter, compared to analysts’ expectations of $557.81 million. During the same quarter last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, June 9th. Steven Madden’s payout ratio is 36.21%.

Institutional Trading of Steven Madden

Hedge funds have recently added to or reduced their stakes in the business. Mariner LLC lifted its stake in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after purchasing an additional 319 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Steven Madden by 2.4% in the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker’s stock valued at $756,000 after purchasing an additional 409 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Steven Madden by 5.5% in the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker’s stock valued at $453,000 after purchasing an additional 554 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Steven Madden by 11.7% in the 4th quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker’s stock valued at $274,000 after purchasing an additional 676 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of Steven Madden by 4.6% in the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker’s stock valued at $734,000 after purchasing an additional 756 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

About Steven Madden

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.