Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Rating of “Hold” from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $44.00.

Several research firms have recently commented on SHOO. Zacks Research lowered shares of Steven Madden from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Needham & Company LLC dropped their price target on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Finally, Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Thursday, February 5th.

Insider Activity at Steven Madden

In other news, Director Arian Simone Reed sold 3,600 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.44, for a total value of $120,384.00. Following the transaction, the director owned 8,705 shares of the company’s stock, valued at $291,095.20. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHOO. CX Institutional raised its position in shares of Steven Madden by 912.7% during the 3rd quarter. CX Institutional now owns 324,218 shares of the textile maker’s stock valued at $10,855,000 after purchasing an additional 292,204 shares during the period. Strs Ohio boosted its holdings in Steven Madden by 993.2% in the 3rd quarter. Strs Ohio now owns 129,000 shares of the textile maker’s stock worth $4,319,000 after buying an additional 117,200 shares during the period. Fund 1 Investments LLC bought a new position in Steven Madden in the 2nd quarter worth $719,000. SummerHaven Investment Management LLC purchased a new stake in Steven Madden in the 3rd quarter worth $1,088,000. Finally, Squarepoint Ops LLC raised its holdings in Steven Madden by 799.9% during the second quarter. Squarepoint Ops LLC now owns 200,652 shares of the textile maker’s stock valued at $4,812,000 after acquiring an additional 178,354 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of SHOO opened at $33.11 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. Steven Madden has a one year low of $19.05 and a one year high of $46.88. The firm has a market capitalization of $2.41 billion, a P/E ratio of 53.40 and a beta of 1.13. The business has a fifty day moving average of $37.75 and a 200 day moving average of $38.14.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $753.70 million for the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.Steven Madden’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th were given a $0.21 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.84 dividend on an annualized basis and a yield of 2.5%. Steven Madden’s dividend payout ratio is presently 135.48%.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.