Steven Madden, Ltd. (SHOO) Forecasted to Post Q4 2018 Earnings of $0.41 Per Share

Steven Madden, Ltd. (NASDAQ:SHOO) – Research analysts at Piper Jaffray Companies lowered their Q4 2018 earnings estimates for Steven Madden in a report released on Wednesday, October 24th. Piper Jaffray Companies analyst E. Murphy now forecasts that the textile maker will earn $0.41 per share for the quarter, down from their prior estimate of $0.41.

Other analysts have also issued reports about the company. Canaccord Genuity set a $39.33 price objective on Steven Madden and gave the stock a “buy” rating in a report on Monday, July 30th. BidaskClub raised Steven Madden from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 24th. Loop Capital set a $36.00 price objective on Steven Madden and gave the stock a “hold” rating in a report on Wednesday, August 8th. Buckingham Research decreased their price objective on Steven Madden to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. Finally, Wells Fargo & Co decreased their price objective on Steven Madden from $50.00 to $30.00 and set a “market perform” rating for the company in a report on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.47.

Shares of SHOO opened at $29.13 on Monday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.49 and a beta of 0.53. Steven Madden has a 52 week low of $24.83 and a 52 week high of $39.30.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, July 31st. The textile maker reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $395.80 million during the quarter, compared to analyst estimates of $390.57 million. Steven Madden had a return on equity of 17.01% and a net margin of 8.17%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS.

In other news, COO Awadhesh K. Sinha sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total value of $230,000.00. Following the completion of the transaction, the chief operating officer now directly owns 57,845 shares of the company’s stock, valued at $3,326,087.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Karla Frieders sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $56.89, for a total value of $398,230.00. Following the completion of the transaction, the insider now directly owns 75,280 shares of the company’s stock, valued at $4,282,679.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,500 shares of company stock valued at $771,405. 1.77% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in SHOO. Victory Capital Management Inc. grew its holdings in shares of Steven Madden by 131.6% in the second quarter. Victory Capital Management Inc. now owns 1,949,545 shares of the textile maker’s stock valued at $103,520,000 after acquiring an additional 1,107,668 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Steven Madden by 6.5% in the second quarter. BlackRock Inc. now owns 7,499,094 shares of the textile maker’s stock valued at $398,201,000 after acquiring an additional 459,305 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Steven Madden by 35.7% in the second quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock valued at $69,646,000 after acquiring an additional 345,001 shares in the last quarter. Cortina Asset Management LLC grew its holdings in shares of Steven Madden by 113.6% in the second quarter. Cortina Asset Management LLC now owns 481,658 shares of the textile maker’s stock valued at $25,576,000 after acquiring an additional 256,154 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Steven Madden in the second quarter valued at approximately $12,013,000. 63.95% of the stock is owned by institutional investors.

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.

Further Reading: Investing strategies using the yield curve

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

Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply