Equities analysts expect Steven Madden, Ltd. (NASDAQ:SHOO) to post $404.92 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Steven Madden’s earnings, with the lowest sales estimate coming in at $400.50 million and the highest estimate coming in at $410.52 million. Steven Madden posted sales of $389.01 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The company is expected to announce its next quarterly earnings results on Friday, April 19th.
According to Zacks, analysts expect that Steven Madden will report full-year sales of $1.74 billion for the current year, with estimates ranging from $1.73 billion to $1.74 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.83 billion, with estimates ranging from $1.81 billion to $1.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Steven Madden.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 27th. The textile maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Steven Madden had a return on equity of 19.00% and a net margin of 7.81%. The company had revenue of $410.36 million for the quarter, compared to the consensus estimate of $401.50 million. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis.
SHOO has been the topic of several research reports. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, February 15th. BidaskClub cut Steven Madden from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Loop Capital upped their price objective on Steven Madden to $38.00 and gave the company a “buy” rating in a research report on Tuesday, February 19th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $37.00 price objective on shares of Steven Madden in a research report on Thursday, February 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Steven Madden in a research report on Monday, February 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $35.73.
Shares of SHOO traded down $0.06 during mid-day trading on Friday, hitting $33.69. The company’s stock had a trading volume of 5,188 shares, compared to its average volume of 459,769. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.06 and a beta of 0.58. Steven Madden has a one year low of $27.88 and a one year high of $39.30.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 19th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.66%. The ex-dividend date was Monday, March 18th. Steven Madden’s payout ratio is currently 30.60%.
Several institutional investors have recently bought and sold shares of SHOO. Advisors Asset Management Inc. raised its stake in shares of Steven Madden by 61.6% during the fourth quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 317 shares in the last quarter. Resources Investment Advisors Inc. raised its position in shares of Steven Madden by 50.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 885 shares of the textile maker’s stock worth $27,000 after acquiring an additional 295 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in shares of Steven Madden in the fourth quarter worth about $30,000. Parkside Financial Bank & Trust raised its position in shares of Steven Madden by 41.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,292 shares of the textile maker’s stock worth $39,000 after acquiring an additional 378 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of Steven Madden in the fourth quarter worth about $42,000. 99.83% of the stock is owned by hedge funds and other institutional investors.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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