Steven Madden (SHOO) – Analysts’ Recent Ratings Changes

Posted by Donald Scott on Nov 27th, 2024

Several brokerages have updated their recommendations and price targets on shares of Steven Madden (NASDAQ: SHOO) in the last few weeks:

11/24/2024 – Steven Madden was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
11/22/2024 – Steven Madden is now covered by analysts at Needham & Company LLC. They set a “hold” rating on the stock.
11/16/2024 – Steven Madden was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
11/13/2024 – Steven Madden had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $50.00 price target on the stock.
11/8/2024 – Steven Madden had its price target raised by analysts at Citigroup Inc. from $43.00 to $45.00. They now have a “neutral” rating on the stock.
11/8/2024 – Steven Madden was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
11/7/2024 – Steven Madden had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $50.00 price target on the stock.
10/30/2024 – Steven Madden had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $50.00 price target on the stock.

Steven Madden Stock Up 1.4 %

Shares of NASDAQ:SHOO traded up $0.62 on Wednesday, reaching $44.78. The company had a trading volume of 224,001 shares, compared to its average volume of 707,914. The stock has a market capitalization of $3.23 billion, a P/E ratio of 19.06 and a beta of 1.08. The stock has a 50-day moving average price of $46.22 and a 200 day moving average price of $44.49. Steven Madden, Ltd. has a twelve month low of $37.51 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO – Get Free Report) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. On average, sell-side analysts predict that Steven Madden, Ltd. will post 2.65 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

A number of hedge funds have recently modified their holdings of SHOO. 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 valued at $2,066,000 after purchasing an additional 35,761 shares in the last quarter. Jane Street Group LLC raised its stake 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 acquiring an additional 49,432 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Steven Madden during the third quarter valued at $2,614,000. Nicholas Investment Partners LP acquired a new stake in shares of Steven Madden in the 2nd quarter valued at $4,863,000. Finally, Vest Financial LLC bought a new stake in shares of Steven Madden in the 2nd quarter worth about $1,074,000. Institutional investors own 99.88% of the company’s stock.

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.