Steven Madden Given New $38.00 Price Target at Canaccord Genuity (SHOO)
Investment analysts at Canaccord Genuity reduced their target price on shares of Steven Madden (NASDAQ:SHOO) from $41.00 to $38.00 in a note issued to investors on Monday, AR Network reports. Canaccord Genuity’s target price points to a potential upside of 14.60% from the company’s current price.
Shares of Steven Madden (NASDAQ:SHOO) opened at 33.16 on Monday. Steven Madden has a 1-year low of $27.3333 and a 1-year high of $39.48. The stock’s 50-day moving average is $35.77 and its 200-day moving average is $35.77. The company has a market cap of $2.247 billion and a P/E ratio of 16.96.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.66 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.66. The company had revenue of $394.00 million for the quarter, compared to the consensus estimate of $384.50 million. During the same quarter last year, the company posted $0.95 earnings per share. Steven Madden’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Steven Madden will post $1.98 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SHOO. Analysts at Piper Jaffray downgraded shares of Steven Madden from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, January 8th. They now have a $36.00 price target on the stock, down previously from $37.00. Separately, analysts at Ned Davis Research downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating in a research note to investors on Monday, December 30th. Finally, analysts at Ned Davis Research upgraded shares of Steven Madden from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 11th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.11.
Steven Madden, Ltd. designs, sources, markets and sells name brand and private label footwear for women, men and children and name brand and private label fashion handbags and accessories.
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