Brokers Offer Predictions for Steven Madden, Ltd.’s FY2018 Earnings (SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO) – Investment analysts at Jefferies Group decreased their FY2018 earnings per share estimates for Steven Madden in a report issued on Tuesday. Jefferies Group analyst R. Konik now forecasts that the textile maker will earn $2.35 per share for the year, down from their previous estimate of $2.36. Jefferies Group currently has a “Hold” rating and a $39.00 target price on the stock.
A number of other equities analysts have also weighed in on SHOO. ValuEngine upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Friday, September 1st. Piper Jaffray Companies restated a “buy” rating and set a $45.00 price target on shares of Steven Madden in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley boosted their price target on shares of Steven Madden from $38.00 to $41.50 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.96.
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Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue was up 8.0% on a year-over-year basis.
Hedge funds have recently modified their holdings of the company. 1060 Capital LLC acquired a new position in shares of Steven Madden in the 2nd quarter worth approximately $24,372,000. Jennison Associates LLC increased its stake in Steven Madden by 0.4% during the 2nd quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock worth $473,000 after buying an additional 44 shares during the period. Prudential Financial Inc. increased its stake in Steven Madden by 63.4% during the 2nd quarter. Prudential Financial Inc. now owns 255,446 shares of the textile maker’s stock worth $10,205,000 after buying an additional 99,150 shares during the period. Royce & Associates LP increased its stake in Steven Madden by 14.3% during the 2nd quarter. Royce & Associates LP now owns 667,480 shares of the textile maker’s stock worth $26,666,000 after buying an additional 83,552 shares during the period. Finally, Aperio Group LLC increased its stake in Steven Madden by 12.1% during the 2nd quarter. Aperio Group LLC now owns 21,467 shares of the textile maker’s stock worth $858,000 after buying an additional 2,316 shares during the period. Hedge funds and other institutional investors own 91.15% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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