Brokers Issue Forecasts for Steven Madden, Ltd.’s Q4 2018 Earnings (SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – KeyCorp dropped their Q4 2018 EPS estimates for Steven Madden in a report released on Tuesday, October 30th. KeyCorp analyst E. Yruma now anticipates that the textile maker will post earnings per share of $0.36 for the quarter, down from their prior forecast of $0.41. KeyCorp also issued estimates for Steven Madden’s Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.40 EPS and FY2019 earnings at $1.94 EPS.

A number of other research analysts have also weighed in on the stock. Loop Capital raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday. Wedbush dropped their price objective on shares of Steven Madden from $55.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Wells Fargo & Co dropped their price objective on shares of Steven Madden from $50.00 to $30.00 and set a “market perform” rating on the stock in a research note on Monday, October 22nd. Zacks Investment Research lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Citigroup dropped their price objective on shares of Steven Madden from $40.67 to $38.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Steven Madden has a consensus rating of “Hold” and a consensus price target of $37.52.

Steven Madden stock opened at $31.27 on Thursday. Steven Madden has a 1-year low of $24.83 and a 1-year high of $39.30. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.53.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Steven Madden had a net margin of 8.79% and a return on equity of 18.05%. The business had revenue of $458.48 million during the quarter, compared to analysts’ expectations of $472.80 million. During the same period last year, the company posted $0.77 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Steven Madden by 6.5% during the second quarter. BlackRock Inc. now owns 7,499,094 shares of the textile maker’s stock valued at $398,201,000 after purchasing an additional 459,305 shares in the last quarter. Victory Capital Management Inc. raised its position in 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 worth $103,520,000 after acquiring an additional 1,107,668 shares during the period. Eagle Asset Management Inc. raised its position in Steven Madden by 2.8% in the second quarter. Eagle Asset Management Inc. now owns 1,834,111 shares of the textile maker’s stock worth $97,391,000 after acquiring an additional 50,399 shares during the period. Jennison Associates LLC raised its position in Steven Madden by 35.7% in the second quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock worth $69,646,000 after acquiring an additional 345,001 shares during the period. Finally, Carillon Tower Advisers Inc. raised its position in Steven Madden by 3.0% in the second quarter. Carillon Tower Advisers Inc. now owns 1,271,044 shares of the textile maker’s stock worth $67,492,000 after acquiring an additional 36,524 shares during the period. 63.95% of the stock is currently owned by institutional investors.

In related news, insider Karla Frieders sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $56.89, for a total transaction of $398,230.00. Following the transaction, the insider now directly owns 75,280 shares of the company’s stock, valued at $4,282,679.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rose Peabody Lynch sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $57.27, for a total transaction of $143,175.00. Following the transaction, the director now directly owns 7,103 shares in the company, valued at $406,788.81. The disclosure for this sale can be found here. Insiders have sold 13,500 shares of company stock worth $771,405 over the last three months. 1.77% of the stock is owned by insiders.

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

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