Jefferies Financial Group Research Analysts Boost Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Analysts at Jefferies Financial Group upped their Q3 2021 earnings per share estimates for shares of Steven Madden in a research report issued on Tuesday, September 21st. Jefferies Financial Group analyst J. Stichter now forecasts that the textile maker will earn $0.83 per share for the quarter, up from their prior forecast of $0.71. Jefferies Financial Group has a “Buy” rating and a $50.00 price target on the stock. Jefferies Financial Group also issued estimates for Steven Madden’s FY2021 earnings at $2.20 EPS.

Several other brokerages also recently weighed in on SHOO. B. Riley raised their price target on Steven Madden from $50.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Telsey Advisory Group lifted their target price on shares of Steven Madden from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Thursday, July 29th. BTIG Research raised their price target on shares of Steven Madden from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, September 17th. TheStreet upgraded Steven Madden from a “c” rating to a “b-” rating in a research note on Wednesday, July 28th. Finally, Piper Sandler boosted their price target on Steven Madden from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, July 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $43.30.

Shares of NASDAQ:SHOO opened at $42.50 on Wednesday. Steven Madden has a 12-month low of $18.47 and a 12-month high of $45.87. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 47.22, a PEG ratio of 1.27 and a beta of 1.32. The stock has a fifty day simple moving average of $41.06 and a two-hundred day simple moving average of $40.81. The company has a current ratio of 2.66, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 28th. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. The firm had revenue of $397.89 million for the quarter, compared to analysts’ expectations of $369.04 million. Steven Madden had a return on equity of 15.30% and a net margin of 5.05%.

A number of hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new position in Steven Madden in the first quarter worth about $2,459,000. Bank of New York Mellon Corp boosted its holdings in shares of Steven Madden by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 875,428 shares of the textile maker’s stock worth $32,619,000 after buying an additional 9,362 shares during the last quarter. Scopus Asset Management L.P. grew its position in Steven Madden by 120.0% during the first quarter. Scopus Asset Management L.P. now owns 1,650,000 shares of the textile maker’s stock valued at $61,479,000 after buying an additional 900,000 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in Steven Madden by 2.6% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 308,630 shares of the textile maker’s stock valued at $13,506,000 after buying an additional 7,907 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Steven Madden by 0.9% in the first quarter. Principal Financial Group Inc. now owns 621,807 shares of the textile maker’s stock worth $23,167,000 after acquiring an additional 5,802 shares during the period. 93.05% of the stock is currently owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 27th. Investors of record on Friday, September 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, September 16th. Steven Madden’s payout ratio is currently 93.75%.

About Steven Madden

Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories and Apparel, Retail, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.

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

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