B. Riley Comments on Steven Madden, Ltd.’s FY2017 Earnings (SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO) – Investment analysts at B. Riley decreased their FY2017 earnings per share estimates for shares of Steven Madden in a research note issued to investors on Wednesday. B. Riley analyst J. Van. Sinderen now anticipates that the textile maker will post earnings of $2.20 per share for the year, down from their previous estimate of $2.23. B. Riley has a “Buy” rating and a $47.00 price objective on the stock. B. Riley also issued estimates for Steven Madden’s Q4 2017 earnings at $0.45 EPS, Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.41 EPS.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Buckingham Research reduced their price target on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $39.00 target price (up previously from $37.00) on shares of Steven Madden in a research report on Wednesday, August 2nd. Canaccord Genuity set a $47.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $45.00 target price (up previously from $41.00) on shares of Steven Madden in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Steven Madden currently has a consensus rating of “Hold” and a consensus price target of $43.96.
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Shares of Steven Madden (NASDAQ SHOO) opened at $38.40 on Monday. The company has a market cap of $2,282.92, a P/E ratio of 17.14, a P/E/G ratio of 1.40 and a beta of 0.48. Steven Madden has a 12-month low of $33.50 and a 12-month high of $44.40.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Steven Madden by 57.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 31,629 shares of the textile maker’s stock worth $1,370,000 after purchasing an additional 11,500 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Steven Madden during the 3rd quarter worth $579,000. Boston Partners increased its stake in shares of Steven Madden by 2.7% during the 3rd quarter. Boston Partners now owns 1,119,883 shares of the textile maker’s stock worth $48,491,000 after purchasing an additional 28,952 shares during the last quarter. USA Financial Portformulas Corp acquired a new position in shares of Steven Madden during the 3rd quarter worth $594,000. Finally, American Century Companies Inc. acquired a new position in shares of Steven Madden during the 3rd quarter worth $3,701,000. Institutional investors own 91.15% of the company’s stock.
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.
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