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Analysts at Wedbush dropped their price target on shares of Steven Madden (NASDAQ:SHOO) from $36.00 to $34.00 in a research report issued to clients and investors on Friday. Wedbush’s price target would indicate a potential upside of 7.73% from the company’s current price.

Steven Madden (NASDAQ:SHOO) traded down 0.91% during mid-day trading on Friday, hitting $31.56. 1,035,562 shares of the company’s stock traded hands. Steven Madden has a one year low of $30.20 and a one year high of $39.48. The stock’s 50-day moving average is $33.46 and its 200-day moving average is $34.09. The company has a market cap of $2.090 billion and a P/E ratio of 15.97.

Steven Madden (NASDAQ:SHOO) last released its earnings data on Thursday, July 31st. 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. Analysts expect that Steven Madden will post $2.11 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Telsey Advisory Group cut their price target on shares of Steven Madden from $39.00 to $37.00 in a research note on Friday. They now have a “not rated” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Steven Madden from $43.00 to $41.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Steven Madden presently has a consensus rating of “Buy” and a consensus price target of $43.88.

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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