Steven Madden, Ltd. (NASDAQ:SHOO) Given Consensus Rating of “Hold” by Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $44.29.

A number of equities analysts have recently weighed in on the stock. Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Piper Sandler restated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 31st.

Steven Madden Trading Down 0.3 %

NASDAQ SHOO opened at $45.30 on Friday. Steven Madden has a 12 month low of $31.56 and a 12 month high of $50.01. The stock has a 50-day simple moving average of $46.29 and a 200 day simple moving average of $43.76. The company has a market capitalization of $3.29 billion, a PE ratio of 18.49 and a beta of 1.08.

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

Steven Madden Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.85%. Steven Madden’s dividend payout ratio is currently 34.29%.

Institutional Investors Weigh In On Steven Madden

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in Steven Madden by 19.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker’s stock worth $19,468,000 after buying an additional 75,034 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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 valued at $554,000 after purchasing an additional 761 shares during the period. Principal Financial Group Inc. lifted its stake in Steven Madden by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 387,205 shares of the textile maker’s stock valued at $16,371,000 after purchasing an additional 1,923 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Steven Madden during the first quarter worth about $47,000. Finally, Central Pacific Bank Trust Division bought a new position in Steven Madden during the first quarter worth about $170,000. 99.88% of the stock is owned by institutional investors.

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.