Steven Madden Sets New 52-Week Low on Disappointing Earnings (SHOO)
Steven Madden (NASDAQ:SHOO) shares reached a new 52-week low on Thursday following a dissappointing earnings announcement, Analyst Ratings.Net reports. The company traded as low as $30.20 and last traded at $32.28, with a volume of 1,238,522 shares traded. The stock had previously closed at $34.15.
The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.01. The company had revenue of $295.70 million for the quarter, compared to the consensus estimate of $313.50 million. During the same quarter last year, the company posted $0.65 earnings per share. Steven Madden’s revenue was down .6% compared to the same quarter last year.
Separately, analysts at B. Riley reiterated a “buy” rating on shares of Steven Madden in a research note on Tuesday, July 22nd. They now have a $44.00 price target on the stock, up previously from $33.72. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $46.75.
The stock has a 50-day moving average of $33.44 and a 200-day moving average of $34.11. The company has a market cap of $2.150 billion and a price-to-earnings ratio of 17.13.
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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