Steven Madden (NASDAQ:SHOO) Raised to Buy at StockNews.com

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

A number of other equities analysts have also commented on SHOO. Telsey Advisory Group reissued a market perform rating and set a $44.00 price target on shares of Steven Madden in a research note on Wednesday, July 31st. Wedbush reissued a neutral rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. BTIG Research upped their price target on shares of Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a research note on Thursday, June 6th. Finally, Piper Sandler restated a neutral rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Steven Madden has a consensus rating of Hold and a consensus price target of $44.29.

Steven Madden Price Performance

SHOO stock opened at $47.47 on Wednesday. Steven Madden has a 1-year low of $30.35 and a 1-year high of $48.76. The business has a 50 day simple moving average of $44.12 and a two-hundred day simple moving average of $42.66. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.62 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, September 13th. Steven Madden’s payout ratio is currently 34.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SHOO. Blue Trust Inc. boosted its holdings in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares during the period. Fidelis Capital Partners LLC purchased a new stake in shares of Steven Madden during the first quarter valued at $47,000. EntryPoint Capital LLC bought a new position in shares of Steven Madden in the first quarter worth about $81,000. nVerses Capital LLC increased its stake in Steven Madden by 3,600.0% in the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock worth $157,000 after buying an additional 3,600 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in Steven Madden during the 1st quarter valued at about $170,000. 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.