FY2024 EPS Estimates for Steven Madden Lifted by Analyst

Steven Madden, Ltd. (NASDAQ:SHOO) – Stock analysts at Telsey Advisory Group increased their FY2024 earnings estimates for Steven Madden in a research report issued to clients and investors on Friday, November 8th. Telsey Advisory Group analyst D. Telsey now anticipates that the textile maker will post earnings per share of $2.67 for the year, up from their previous estimate of $2.65. Telsey Advisory Group currently has a “Market Perform” rating and a $50.00 target price on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.65 per share. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.54 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $3.04 EPS.

Other research analysts also recently issued research reports about the stock. Piper Sandler restated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research 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. Citigroup upped their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wedbush reiterated a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Price Performance

Steven Madden stock opened at $44.83 on Monday. The stock’s 50 day moving average is $46.41 and its 200 day moving average is $44.25. Steven Madden has a one year low of $33.07 and a one year high of $50.01. The firm has a market cap of $3.26 billion, a P/E ratio of 19.08 and a beta of 1.08.

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, topping 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 period last year, the company earned $0.88 EPS. Steven Madden’s revenue for the quarter was up 13.0% compared to the same quarter last year.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of Steven Madden by 8.6% during the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after buying an additional 146,324 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Steven Madden during the 1st quarter valued at about $5,834,000. Nicholas Investment Partners LP bought a new stake in Steven Madden during the 2nd quarter worth approximately $4,863,000. Squarepoint Ops LLC bought a new stake in Steven Madden during the 2nd quarter worth approximately $4,550,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Steven Madden by 149.8% in the third quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker’s stock worth $5,977,000 after purchasing an additional 73,165 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given 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 dividend yield of 1.87%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

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.