Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Recommendation of “Hold” by Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $44.00.

Several brokerages recently commented on SHOO. Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Williams Trading set a $48.00 target price on shares of Steven Madden in a research note on Tuesday, March 10th. Zacks Research cut shares of Steven Madden from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group cut Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Thursday, February 5th.

Steven Madden Stock Down 0.3%

Shares of NASDAQ:SHOO opened at $33.11 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $37.75 and a two-hundred day simple moving average of $38.14. Steven Madden has a 12-month low of $19.05 and a 12-month high of $46.88. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 53.40 and a beta of 1.13.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million for the quarter, compared to analysts’ expectations of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, research analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th were paid a $0.21 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.5%. Steven Madden’s payout ratio is currently 135.48%.

Insider Activity

In other news, Director Arian Simone Reed sold 3,600 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the transaction, the director directly owned 8,705 shares of the company’s stock, valued at $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently bought and sold shares of the business. Scopus Asset Management L.P. purchased a new position in shares of Steven Madden during the third quarter valued at approximately $36,451,000. Boston Partners bought a new position in Steven Madden during the third quarter valued at approximately $33,319,000. Invesco Ltd. boosted its holdings in Steven Madden by 50.5% in the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its position in Steven Madden by 155.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock worth $31,974,000 after purchasing an additional 581,745 shares during the period. Finally, Millennium Management LLC grew its position in Steven Madden by 1,170.4% in the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock worth $16,438,000 after purchasing an additional 568,477 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.