Steven Madden (NASDAQ:SHOO) Given Market Perform Rating at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a report published on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the textile maker’s stock.

Several other equities research analysts also recently commented on the stock. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.14.

Steven Madden Price Performance

SHOO opened at $44.75 on Wednesday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 18.27 and a beta of 1.09. The firm has a 50 day simple moving average of $46.38 and a 200 day simple moving average of $43.96. Steven Madden has a fifty-two week low of $32.54 and a fifty-two week high of $50.01.

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

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden’s dividend payout ratio is 34.29%.

Institutional Investors Weigh In On Steven Madden

Large investors have recently made changes to their positions in the stock. Seven Eight Capital LP increased its position 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 in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Steven Madden by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock worth $2,066,000 after purchasing an additional 35,761 shares during the last quarter. Quantbot Technologies LP acquired a new position in Steven Madden during the first quarter worth $1,968,000. Magnetar Financial LLC acquired a new position in Steven Madden during the first quarter worth $876,000. Finally, Jane Street Group LLC boosted its holdings in Steven Madden by 36.9% during the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after purchasing an additional 49,432 shares during the last quarter. 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.