Steven Madden, Ltd. (NASDAQ:SHOO) - Equities research analysts at Jefferies Group upped their FY2017 earnings per share (EPS) estimates for Steven Madden in a report released on Tuesday. Jefferies Group analyst R. Konik now forecasts that the textile maker will post earnings of $2.24 per share for the year, up from their prior forecast of $2.18. Jefferies Group has a “Hold” rating and a $39.00 price objective on the stock. Jefferies Group also issued estimates for Steven Madden’s FY2018 earnings at $2.36 EPS.
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity set a $45.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a research note on Friday, May 26th. B. Riley reissued a “buy” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Saturday, April 29th. Piper Jaffray Companies set a $41.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a research note on Friday, April 21st. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Tuesday, June 20th. Finally, Buckingham Research lifted their price objective on shares of Steven Madden from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Steven Madden presently has a consensus rating of “Buy” and an average price target of $42.91.
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Shares of Steven Madden (SHOO) traded down 0.538% during trading on Wednesday, hitting $41.575. The company’s stock had a trading volume of 63,627 shares. The firm’s 50 day moving average is $39.40 and its 200-day moving average is $37.79. The company has a market capitalization of $2.47 billion, a P/E ratio of 20.840 and a beta of 0.53. Steven Madden has a 1-year low of $32.30 and a 1-year high of $42.65.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. Steven Madden had a return on equity of 17.66% and a net margin of 8.19%. The company had revenue of $374.15 million for the quarter, compared to analyst estimates of $355.22 million. During the same period in the prior year, the company posted $0.42 EPS. Steven Madden’s quarterly revenue was up 15.0% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. boosted its position in Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after buying an additional 60 shares in the last quarter. Boston Partners boosted its position in Steven Madden by 9.6% in the second quarter. Boston Partners now owns 1,090,931 shares of the textile maker’s stock worth $43,582,000 after buying an additional 95,362 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Steven Madden by 9.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 384,630 shares of the textile maker’s stock worth $15,366,000 after buying an additional 34,309 shares in the last quarter. TD Asset Management Inc. purchased a new position in Steven Madden during the second quarter worth approximately $563,000. Finally, Hodges Capital Management Inc. bought a new stake in shares of Steven Madden during the second quarter worth $2,996,000. 91.11% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Rose Peabody Lynch sold 2,240 shares of Steven Madden stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total transaction of $88,076.80. Following the completion of the transaction, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Karla Frieders sold 5,000 shares of Steven Madden stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $38.61, for a total transaction of $193,050.00. Following the transaction, the insider now directly owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,740 shares of company stock valued at $4,832,677. 2.20% of the stock is owned by corporate insiders.
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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