Steven Madden, Ltd. (NASDAQ:SHOO – Get Rating) – Equities researchers at Zacks Research decreased their Q2 2023 earnings per share estimates for shares of Steven Madden in a research note issued to investors on Tuesday, May 23rd. Zacks Research analyst R. Jaiswal now anticipates that the textile maker will post earnings per share of $0.49 for the quarter, down from their previous estimate of $0.54. The consensus estimate for Steven Madden’s current full-year earnings is $2.48 per share. Zacks Research also issued estimates for Steven Madden’s Q3 2023 earnings at $0.82 EPS, Q4 2023 earnings at $0.65 EPS, FY2023 earnings at $2.46 EPS, Q1 2024 earnings at $0.64 EPS, Q2 2024 earnings at $0.58 EPS, Q3 2024 earnings at $0.85 EPS, FY2024 earnings at $2.69 EPS, Q1 2025 earnings at $0.41 EPS and FY2025 earnings at $2.47 EPS.
Several other analysts also recently issued reports on the company. Citigroup upgraded Steven Madden from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $42.00 in a report on Thursday, April 13th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Saturday, May 13th. Loop Capital boosted their price target on Steven Madden from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, February 14th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $34.00 price objective on shares of Steven Madden in a research report on Thursday, February 23rd. Finally, UBS Group boosted their target price on shares of Steven Madden from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, March 30th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.14.
Steven Madden Stock Up 0.2 %
Steven Madden (NASDAQ:SHOO – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The textile maker reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Steven Madden had a return on equity of 21.62% and a net margin of 8.80%. The firm had revenue of $461.70 million during the quarter, compared to analysts’ expectations of $449.83 million. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue for the quarter was down 17.2% compared to the same quarter last year.
Steven Madden Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Monday, June 12th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.74%. Steven Madden’s dividend payout ratio (DPR) is 36.36%.
Hedge Funds Weigh In On Steven Madden
Several large investors have recently added to or reduced their stakes in SHOO. Ceredex Value Advisors LLC lifted its position in shares of Steven Madden by 21.4% in the 4th quarter. Ceredex Value Advisors LLC now owns 291,236 shares of the textile maker’s stock worth $9,308,000 after buying an additional 51,360 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Steven Madden by 8.8% during the third quarter. Segall Bryant & Hamill LLC now owns 159,663 shares of the textile maker’s stock valued at $4,259,000 after purchasing an additional 12,964 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Steven Madden by 70.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 323,982 shares of the textile maker’s stock worth $8,641,000 after purchasing an additional 134,368 shares during the period. Macquarie Group Ltd. raised its position in shares of Steven Madden by 13.7% during the 3rd quarter. Macquarie Group Ltd. now owns 4,883,884 shares of the textile maker’s stock worth $130,290,000 after purchasing an additional 586,784 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $218,000. 95.30% of the stock is currently owned by institutional investors.
Steven Madden Company Profile
Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories and Apparel, Direct-to-Consumer, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.
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