Steven Madden (NASDAQ:SHOO) Earns “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a report released on Wednesday morning,Benzinga reports. They currently have a $50.00 price objective on the textile maker’s stock. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.54 EPS, FY2024 earnings at $2.67 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $3.04 EPS.

Other analysts have also issued research reports about the company. Citigroup increased their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Wedbush reaffirmed a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Trading Down 1.6 %

SHOO stock opened at $43.23 on Wednesday. The stock has a market cap of $3.12 billion, a PE ratio of 18.40 and a beta of 1.08. Steven Madden has a 12 month low of $35.64 and a 12 month high of $50.01. The company has a 50-day moving average price of $46.43 and a 200 day moving average price of $44.32.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts forecast that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of Steven Madden by 225.8% during the 1st quarter. SG Americas Securities LLC now owns 13,075 shares of the textile maker’s stock valued at $553,000 after purchasing an additional 9,062 shares during the last quarter. ProShare Advisors LLC raised its stake in Steven Madden by 5.8% in the first quarter. ProShare Advisors LLC now owns 14,817 shares of the textile maker’s stock valued at $626,000 after buying an additional 807 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Steven Madden in the first quarter worth about $5,834,000. Seven Eight Capital LP grew its stake in shares of Steven Madden by 902.5% during the first quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock worth $2,083,000 after acquiring an additional 44,351 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Steven Madden during the first quarter valued at about $757,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

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.