Q1 2024 Earnings Estimate for Steven Madden, Ltd. Issued By Wedbush (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOOFree Report) – Wedbush lowered their Q1 2024 EPS estimates for shares of Steven Madden in a note issued to investors on Tuesday, February 6th. Wedbush analyst T. Nikic now expects that the textile maker will post earnings of $0.52 per share for the quarter, down from their prior forecast of $0.53. Wedbush has a “Neutral” rating and a $38.00 price target on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.40 per share. Wedbush also issued estimates for Steven Madden’s Q2 2024 earnings at $0.53 EPS.

Steven Madden (NASDAQ:SHOOGet Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $552.73 million for the quarter, compared to analysts’ expectations of $548.98 million. Steven Madden had a net margin of 8.68% and a return on equity of 20.30%. Steven Madden’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS.

A number of other brokerages have also weighed in on SHOO. Telsey Advisory Group reissued a “market perform” rating and issued a $39.00 target price on shares of Steven Madden in a research report on Wednesday, November 15th. Citigroup lowered Steven Madden from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Wednesday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.14.

View Our Latest Research Report on SHOO

Steven Madden Price Performance

Shares of Steven Madden stock opened at $40.96 on Thursday. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 18.37 and a beta of 1.17. The firm’s 50-day moving average is $41.68 and its 200 day moving average is $36.53. Steven Madden has a 1 year low of $29.92 and a 1 year high of $44.23.

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Steven Madden by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,512,437 shares of the textile maker’s stock valued at $328,921,000 after purchasing an additional 98,155 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Steven Madden by 9.4% during the 1st quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker’s stock valued at $290,941,000 after acquiring an additional 648,822 shares during the period. Macquarie Group Ltd. grew its stake in shares of Steven Madden by 1.5% during the 1st quarter. Macquarie Group Ltd. now owns 5,280,204 shares of the textile maker’s stock valued at $190,088,000 after acquiring an additional 76,021 shares during the period. State Street Corp grew its stake in shares of Steven Madden by 3.2% during the 1st quarter. State Street Corp now owns 2,624,652 shares of the textile maker’s stock valued at $101,417,000 after acquiring an additional 80,513 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Steven Madden by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,611,231 shares of the textile maker’s stock valued at $83,455,000 after acquiring an additional 84,732 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, December 14th. Steven Madden’s payout ratio is currently 37.67%.

About Steven Madden

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Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, First Cost, and Licensing segments.

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Earnings History and Estimates for Steven Madden (NASDAQ:SHOO)

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