StockNews.com Downgrades Steven Madden (NASDAQ:SHOO) to Hold

StockNews.com downgraded shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a research note published on Friday morning.

Several other brokerages also recently commented on SHOO. Citigroup raised 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. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Trading Down 0.5 %

Shares of Steven Madden stock opened at $42.33 on Friday. The business’s fifty day simple moving average is $44.23 and its 200 day simple moving average is $44.59. The firm has a market capitalization of $3.06 billion, a P/E ratio of 18.01 and a beta of 1.07. Steven Madden has a 12 month low of $37.99 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued 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. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Analysts predict that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.98%. Steven Madden’s payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp grew its holdings in Steven Madden by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock worth $348,000 after acquiring an additional 248 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after purchasing an additional 400 shares during the period. The Manufacturers Life Insurance Company raised its position in Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after purchasing an additional 484 shares during the last quarter. KBC Group NV increased its stake in shares of Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after buying an additional 561 shares during the period. Finally, Sei Investments Co. lifted its stake in Steven Madden by 0.5% in the second quarter. Sei Investments Co. now owns 125,678 shares of the textile maker’s stock worth $5,316,000 after acquiring an additional 590 shares during the period. 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.