Steven Madden, Ltd. (NASDAQ:SHOO) Receives $44.29 Consensus PT from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $44.29.

Several brokerages have commented on SHOO. BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Wedbush reissued a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Finally, StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th.

Hedge Funds Weigh In On Steven Madden

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Steven Madden during the 4th quarter worth about $19,846,000. PNC Financial Services Group Inc. grew its stake in Steven Madden by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock worth $554,000 after acquiring an additional 761 shares during the period. Corient Private Wealth LLC acquired a new position in Steven Madden in the 4th quarter valued at $809,000. Harvest Investment Services LLC purchased a new position in shares of Steven Madden during the 4th quarter worth $417,000. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Steven Madden by 1.4% during the fourth quarter. Eagle Asset Management Inc. now owns 319,222 shares of the textile maker’s stock worth $13,407,000 after purchasing an additional 4,504 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

Steven Madden Stock Up 1.2 %

Shares of Steven Madden stock opened at $48.38 on Tuesday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 19.99 and a beta of 1.08. Steven Madden has a 52-week low of $30.69 and a 52-week high of $49.29. The company’s 50-day simple moving average is $44.50 and its 200-day simple moving average is $42.86.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. Equities research analysts anticipate that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.74%. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

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.