According to Zacks, “Shares of Steve Madden have lagged the industry in the past month. Notably, it is facing the heat from escalated trade war between the United States and China. This may lead to store closures which in turn may hurt Steve Madden’s bottom line. Moreover, rise in cost of goods sold and elevated operating costs may weigh on margins in the future. However, the company is gaining from robust performance at its flagship Steve Madden brand in both footwear and accessories that led management to raise 2019 view. The addition of Anne Klein and solid e-commerce business also contributed to the better-than-expected first quarter 2019 results. Further, its expansion plans remain on track as double-digit sales growth is projected in the international market. Moreover, sturdy performance in wholesale business may lift the company’s top line in the near term. In fact, sales are expected to grow 5-7% for 2019, up from the prior view of 4%-6% growth.”
Several other analysts also recently issued reports on SHOO. BidaskClub raised shares of Steven Madden from a sell rating to a hold rating in a report on Thursday, April 25th. ValuEngine downgraded shares of Steven Madden from a hold rating to a sell rating in a report on Wednesday. Piper Jaffray Companies downgraded shares of Steven Madden from an overweight rating to a neutral rating and decreased their price objective for the stock from $38.00 to $32.00 in a report on Tuesday, May 14th. B. Riley reaffirmed a buy rating on shares of Steven Madden in a report on Friday, April 26th. Finally, Canaccord Genuity set a $41.00 price objective on shares of Steven Madden and gave the stock a buy rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Steven Madden currently has an average rating of Hold and a consensus price target of $35.33.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, April 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The business had revenue of $410.90 million during the quarter, compared to the consensus estimate of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. Steven Madden’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Research analysts forecast that Steven Madden will post 1.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Tuesday, June 18th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, June 17th. Steven Madden’s dividend payout ratio (DPR) is presently 30.60%.
In other news, EVP Michael Paradise sold 2,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total value of $71,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rose Peabody Lynch sold 2,760 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $35.83, for a total transaction of $98,890.80. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Steven Madden by 1,100.0% in the 1st quarter. Quadrant Capital Group LLC now owns 804 shares of the textile maker’s stock valued at $26,000 after buying an additional 737 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Steven Madden by 61.6% in the 4th quarter. Advisors Asset Management Inc. now owns 832 shares of the textile maker’s stock valued at $25,000 after buying an additional 317 shares in the last quarter. Resources Investment Advisors Inc. raised its stake in shares of Steven Madden by 50.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 885 shares of the textile maker’s stock valued at $27,000 after buying an additional 295 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Steven Madden by 41.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,292 shares of the textile maker’s stock valued at $39,000 after buying an additional 378 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new position in shares of Steven Madden in the 4th quarter valued at $42,000. Institutional investors own 99.40% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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