Steven Madden, Ltd. (NASDAQ:SHOO) Expected to Announce Quarterly Sales of $489.37 Million

Equities analysts predict that Steven Madden, Ltd. (NASDAQ:SHOO) will report sales of $489.37 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Steven Madden’s earnings. The lowest sales estimate is $481.40 million and the highest is $494.60 million. Steven Madden posted sales of $458.48 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The business is expected to announce its next earnings report on Tuesday, October 29th.

On average, analysts expect that Steven Madden will report full year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.75 billion to $1.80 billion. For the next fiscal year, analysts expect that the business will post sales of $1.87 billion, with estimates ranging from $1.79 billion to $1.92 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Steven Madden.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, July 30th. The textile maker reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.05. Steven Madden had a net margin of 8.07% and a return on equity of 19.90%. The business had revenue of $444.97 million during the quarter, compared to analyst estimates of $420.40 million. During the same quarter last year, the business earned $0.41 earnings per share. Steven Madden’s quarterly revenue was up 12.4% compared to the same quarter last year.

SHOO has been the subject of several research reports. BidaskClub upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered shares of Steven Madden from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a research report on Thursday, July 18th. ValuEngine lowered shares of Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. B. Riley set a $42.00 price objective on shares of Steven Madden and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Citigroup set a $37.00 price objective on shares of Steven Madden and gave the company a “hold” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $35.80.

In other news, CFO Arvind Dharia sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $36.30, for a total value of $272,250.00. Following the completion of the sale, the chief financial officer now owns 102,107 shares in the company, valued at approximately $3,706,484.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Migliorini sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.17, for a total transaction of $108,510.00. Following the completion of the sale, the director now owns 11,204 shares of the company’s stock, valued at approximately $405,248.68. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its holdings in Steven Madden by 1,043.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 749,239 shares of the textile maker’s stock valued at $25,437,000 after buying an additional 683,722 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Steven Madden by 16.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,153,956 shares of the textile maker’s stock valued at $107,077,000 after buying an additional 443,933 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Steven Madden during the 2nd quarter valued at about $12,004,000. BlackRock Inc. lifted its holdings in Steven Madden by 2.1% during the 2nd quarter. BlackRock Inc. now owns 11,992,962 shares of the textile maker’s stock valued at $407,160,000 after buying an additional 248,673 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Steven Madden by 108.7% during the 2nd quarter. Morgan Stanley now owns 367,197 shares of the textile maker’s stock valued at $12,466,000 after buying an additional 191,272 shares in the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.

SHOO stock traded down $0.14 during trading on Monday, hitting $35.86. 136,930 shares of the company’s stock traded hands, compared to its average volume of 590,636. Steven Madden has a 52 week low of $27.88 and a 52 week high of $36.87. The business has a fifty day simple moving average of $34.77 and a 200 day simple moving average of $33.13. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 3.31 and a beta of 0.79.

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.56 annualized dividend and a dividend yield of 1.56%. Steven Madden’s dividend payout ratio (DPR) is presently 30.60%.

About Steven Madden

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Earnings History and Estimates for Steven Madden (NASDAQ:SHOO)

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