Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at Wedbush cut their FY2017 earnings per share (EPS) estimates for Steven Madden in a research report issued to clients and investors on Wednesday. Wedbush analyst C. Svezia now expects that the textile maker will post earnings per share of $2.21 for the year, down from their previous forecast of $2.25. Wedbush currently has a “Outperform” rating and a $48.00 target price on the stock. Wedbush also issued estimates for Steven Madden’s Q4 2017 earnings at $0.46 EPS and FY2018 earnings at $2.46 EPS.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. The business had revenue of $441.19 million during the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share.

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SHOO has been the subject of a number of other reports. Telsey Advisory Group reissued an “outperform” rating and set a $45.00 target price (up from $41.00) on shares of Steven Madden in a research note on Tuesday, August 8th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Friday, August 18th. B. Riley reissued a “buy” rating and set a $47.00 target price on shares of Steven Madden in a research note on Tuesday, August 8th. BidaskClub downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC set a $39.00 target price on Steven Madden and gave the stock a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.96.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. UBS Asset Management Americas Inc. increased its stake in Steven Madden by 45.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 29,957 shares of the textile maker’s stock valued at $1,155,000 after purchasing an additional 9,400 shares in the last quarter. Teachers Advisors LLC increased its stake in Steven Madden by 92.0% in the 1st quarter. Teachers Advisors LLC now owns 557,535 shares of the textile maker’s stock valued at $21,493,000 after purchasing an additional 267,183 shares in the last quarter. California Public Employees Retirement System increased its stake in Steven Madden by 4.0% in the 1st quarter. California Public Employees Retirement System now owns 123,300 shares of the textile maker’s stock valued at $4,753,000 after purchasing an additional 4,700 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Steven Madden by 3.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 18,929 shares of the textile maker’s stock valued at $730,000 after purchasing an additional 635 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Steven Madden by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 4,809,629 shares of the textile maker’s stock valued at $185,410,000 after purchasing an additional 211,878 shares in the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Company Profile

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.

Earnings History and Estimates for Steven Madden (NASDAQ:SHOO)

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