Steven Madden, Ltd. (SHOO) to Post FY2017 Earnings of $2.24 Per Share, KeyCorp Forecasts

Steven Madden, Ltd. (NASDAQ:SHOO) – Analysts at KeyCorp boosted their FY2017 earnings per share (EPS) estimates for Steven Madden in a report issued on Wednesday. KeyCorp analyst E. Yruma now anticipates that the textile maker will post earnings of $2.24 per share for the year, up from their previous forecast of $2.21. KeyCorp also issued estimates for Steven Madden’s Q4 2017 earnings at $0.49 EPS, Q2 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.62 EPS and FY2018 earnings at $2.81 EPS.

Several other research analysts also recently weighed in on the company. Wells Fargo & Co set a $46.00 price target on Steven Madden and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, January 10th. B. Riley restated a “buy” rating and issued a $52.00 price target (up from $47.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Telsey Advisory Group restated an “outperform” rating and issued a $51.00 price target (up from $44.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Finally, Canaccord Genuity set a $50.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Sunday, January 7th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Steven Madden presently has a consensus rating of “Buy” and a consensus target price of $48.21.

Steven Madden (SHOO) opened at $48.20 on Monday. Steven Madden has a 52 week low of $33.50 and a 52 week high of $48.80. The firm has a market capitalization of $2,850.00, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.81 and a beta of 0.51.

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

In other news, Director Richard P. Randall sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now directly owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $42.78, for a total value of $1,069,500.00. Following the sale, the president now directly owns 113,007 shares in the company, valued at $4,834,439.46. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock worth $1,460,100 over the last ninety days. Insiders own 2.06% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC raised its holdings in shares of Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after acquiring an additional 1,262 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Steven Madden during the 3rd quarter worth approximately $158,000. First Quadrant L P CA purchased a new stake in shares of Steven Madden during the 3rd quarter worth approximately $191,000. Public Employees Retirement System of Ohio raised its holdings in shares of Steven Madden by 9.1% during the 2nd 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 Steven Madden during the 3rd quarter valued at $205,000. 92.98% of the stock is currently owned by institutional investors and hedge funds.

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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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