Steven Madden (NASDAQ:SHOO) Earns Outperform Rating from Analysts at Exane BNP Paribas

Exane BNP Paribas started coverage on shares of Steven Madden (NASDAQ:SHOOGet Rating) in a research note issued to investors on Wednesday, The Fly reports. The brokerage issued an outperform rating on the textile maker’s stock.

A number of other brokerages have also recently commented on SHOO. UBS Group lifted their price target on shares of Steven Madden from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Monday, August 1st. StockNews.com cut shares of Steven Madden from a buy rating to a hold rating in a research note on Friday, September 9th. BNP Paribas started coverage on shares of Steven Madden in a research note on Wednesday. They set an outperform rating for the company. Telsey Advisory Group decreased their price objective on shares of Steven Madden from $52.00 to $38.00 and set a market perform rating for the company in a report on Thursday, July 28th. Finally, Wedbush decreased their price objective on shares of Steven Madden from $55.00 to $46.00 and set an outperform rating for the company in a report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $45.33.

Steven Madden Stock Performance

SHOO opened at $29.02 on Wednesday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 9.10 and a beta of 1.08. The company has a fifty day moving average of $31.76 and a 200 day moving average of $35.68. Steven Madden has a fifty-two week low of $28.41 and a fifty-two week high of $51.56.

Steven Madden (NASDAQ:SHOOGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The textile maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Steven Madden had a net margin of 11.61% and a return on equity of 31.40%. The business had revenue of $532.68 million during the quarter, compared to analysts’ expectations of $491.80 million. During the same period last year, the company posted $0.48 EPS. The business’s revenue was up 34.9% on a year-over-year basis. On average, equities research analysts forecast that Steven Madden will post 2.97 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Friday, September 16th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, September 15th. Steven Madden’s payout ratio is currently 26.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Verition Fund Management LLC grew its position in shares of Steven Madden by 49.4% in the 2nd quarter. Verition Fund Management LLC now owns 10,620 shares of the textile maker’s stock worth $342,000 after buying an additional 3,513 shares during the last quarter. Prelude Capital Management LLC purchased a new stake in Steven Madden during the 2nd quarter worth approximately $252,000. Nomura Holdings Inc. purchased a new stake in Steven Madden during the 2nd quarter worth approximately $1,772,000. Jane Street Group LLC grew its position in Steven Madden by 288.7% during the 2nd quarter. Jane Street Group LLC now owns 62,420 shares of the textile maker’s stock worth $2,010,000 after purchasing an additional 46,360 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Steven Madden by 18.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 73,756 shares of the textile maker’s stock worth $2,376,000 after purchasing an additional 11,472 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Steven Madden Company Profile

(Get Rating)

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

See Also

The Fly logo

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.