Jefferies Group Comments on Steven Madden, Ltd.’s FY2017 Earnings (SHOO)
Steven Madden, Ltd. (NASDAQ:SHOO) – Jefferies Group issued their FY2017 earnings per share estimates for shares of Steven Madden in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Stichter forecasts that the textile maker will post earnings per share of $2.24 for the year. Jefferies Group currently has a “Hold” rating and a $39.00 target price on the stock.
A number of other equities research analysts also recently issued reports on SHOO. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, September 7th. ValuEngine downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Susquehanna Bancshares reiterated a “buy” rating and issued a $48.00 price target on shares of Steven Madden in a research note on Monday, October 23rd. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Finally, B. Riley set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Thursday, October 26th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Steven Madden currently has an average rating of “Buy” and a consensus target price of $45.86.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year.
In other news, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the sale, the president now directly owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the sale, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at $2,854,136.49. The disclosure for this sale can be found here. Insiders sold a total of 34,000 shares of company stock valued at $1,460,100 over the last three months. Corporate insiders own 2.06% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SHOO. Riverhead Capital Management LLC lifted its holdings in shares of Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 1,262 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Steven Madden during the third quarter worth $158,000. First Quadrant L P CA purchased a new stake in shares of Steven Madden during the third quarter worth $191,000. Public Employees Retirement System of Ohio raised its holdings in shares of Steven Madden by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after acquiring an additional 415 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in shares of Steven Madden during the third quarter worth $205,000. Institutional investors own 92.98% of the company’s stock.
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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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