Steven Madden, Ltd. (NASDAQ:SHOO) Expected to Post Q2 2024 Earnings of $0.51 Per Share

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities research analysts at Wedbush increased their Q2 2024 earnings estimates for Steven Madden in a report issued on Wednesday, May 1st. Wedbush analyst T. Nikic now anticipates that the textile maker will earn $0.51 per share for the quarter, up from their prior estimate of $0.50. Wedbush has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.62 per share.

A number of other brokerages have also recently issued reports on SHOO. Citigroup increased their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Piper Sandler began coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective for the company. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Williams Trading reissued a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.38.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $39.59 on Monday. The firm has a fifty day moving average price of $41.05 and a 200-day moving average price of $40.10. The stock has a market cap of $2.90 billion, a PE ratio of 16.36 and a beta of 1.15. Steven Madden has a 1 year low of $29.92 and a 1 year high of $45.63.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, June 10th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, June 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. Steven Madden’s dividend payout ratio is 34.71%.

Insider Buying and Selling

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of Steven Madden stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the transaction, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at approximately $2,865,583.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,346 shares of company stock worth $2,464,841. 2.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

A number of large investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in shares of Steven Madden by 456.9% during the 1st quarter. GSA Capital Partners LLP now owns 34,017 shares of the textile maker’s stock worth $1,438,000 after purchasing an additional 27,909 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Steven Madden during the 1st quarter worth about $170,000. Fidelis Capital Partners LLC purchased a new position in shares of Steven Madden during the 1st quarter worth about $47,000. Principal Financial Group Inc. boosted its stake in shares of Steven Madden by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker’s stock worth $16,371,000 after purchasing an additional 1,923 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Steven Madden by 4.8% during the 1st quarter. Raymond James & Associates now owns 110,938 shares of the textile maker’s stock worth $4,690,000 after purchasing an additional 5,059 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.