Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Rating of “Hold” by Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has earned a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.59.

Several brokerages have weighed in on SHOO. BidaskClub raised shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Piper Jaffray Companies set a $9.00 target price on shares of FTS International and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $36.00 target price (down previously from $38.00) on shares of Steven Madden in a research note on Thursday, June 6th. B. Riley reaffirmed a “buy” rating on shares of Skechers USA in a research note on Friday, April 26th. Finally, Zacks Investment Research lowered shares of Tupperware Brands from a “hold” rating to a “sell” rating in a research note on Thursday.

SHOO stock traded down $0.01 during mid-day trading on Friday, hitting $32.96. 14,493 shares of the company were exchanged, compared to its average volume of 498,635. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.02 and a beta of 0.82. The firm’s fifty day simple moving average is $32.43. Steven Madden has a 12-month low of $27.88 and a 12-month high of $39.30.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The company had revenue of $410.90 million during the quarter, compared to analyst estimates of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. Steven Madden’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. Equities research analysts expect that Steven Madden will post 1.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.56 annualized dividend and a dividend yield of 1.70%. Steven Madden’s dividend payout ratio is presently 30.60%.

In other news, Director Robert Garrett Smith sold 9,267 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $31.00, for a total transaction of $287,277.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Paradise sold 2,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $35.99, for a total transaction of $71,980.00. The disclosure for this sale can be found here. Insiders have sold 17,417 shares of company stock worth $567,204 in the last three months. Corporate insiders own 1.96% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of Steven Madden by 1,100.0% during the first quarter. Quadrant Capital Group LLC now owns 804 shares of the textile maker’s stock worth $26,000 after purchasing an additional 737 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Steven Madden in the fourth quarter valued at approximately $42,000. Valeo Financial Advisors LLC acquired a new stake in Steven Madden in the first quarter valued at approximately $60,000. Manchester Capital Management LLC acquired a new stake in Steven Madden in the first quarter valued at approximately $69,000. Finally, Miles Capital Inc. acquired a new stake in Steven Madden in the first quarter valued at approximately $211,000. 95.87% of the stock is currently owned by institutional investors and hedge funds.

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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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