Q2 2024 EPS Estimates for Steven Madden, Ltd. Lifted by Telsey Advisory Group (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at Telsey Advisory Group raised their Q2 2024 earnings per share estimates for Steven Madden in a report released on Thursday, May 2nd. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will earn $0.54 per share for the quarter, up from their previous estimate of $0.51. Telsey Advisory Group currently has a “Market Perform” rating and a $44.00 target price on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.62 per share. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.65 EPS, Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $1.02 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $2.98 EPS.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.09. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the stock. Williams Trading restated a “hold” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Wedbush raised their target price on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Citigroup upped their price target on Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Piper Sandler assumed coverage on Steven Madden in a research report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Steven Madden presently has a consensus rating of “Hold” and an average target price of $41.38.

Steven Madden Price Performance

NASDAQ SHOO opened at $39.59 on Monday. Steven Madden has a 12 month low of $29.92 and a 12 month high of $45.63. The company has a market capitalization of $2.90 billion, a P/E ratio of 16.36 and a beta of 1.15. The company’s 50 day simple moving average is $41.05 and its 200 day simple moving average is $40.10.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOO. GAMMA Investing LLC acquired a new position in Steven Madden in the 4th quarter worth $32,000. Fidelis Capital Partners LLC bought a new position in shares of Steven Madden during the first quarter worth about $47,000. International Assets Investment Management LLC lifted its stake in Steven Madden by 4,100.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 1,599 shares in the last quarter. Covestor Ltd boosted its position in Steven Madden by 32.9% during the 3rd quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock worth $169,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Steven Madden during the 1st quarter worth approximately $170,000. 99.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the transaction, the director now directly owns 5,751 shares of the company’s stock, valued at $242,289.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares in the company, valued at $242,289.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,346 shares of company stock valued at $2,464,841. 2.08% of the stock is currently owned by insiders.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.