Analysts Set Expectations for Steven Madden, Ltd.’s Q2 2024 Earnings (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Equities researchers at Wedbush lifted their Q2 2024 earnings estimates for Steven Madden in a report released on Wednesday, May 1st. Wedbush analyst T. Nikic now expects that the textile maker will post earnings per share of $0.51 for the quarter, up from their previous forecast of $0.50. Wedbush has a “Neutral” rating and a $38.00 price objective on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.62 per share.

SHOO has been the subject of several other reports. Williams Trading reiterated a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Citigroup lifted their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Piper Sandler assumed coverage on shares of Steven Madden in a report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price target on the stock. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $41.38.

Steven Madden Trading Up 0.3 %

NASDAQ:SHOO opened at $40.61 on Monday. Steven Madden has a 12 month low of $29.92 and a 12 month high of $45.63. The firm has a fifty day simple moving average of $40.93 and a 200-day simple moving average of $40.21. The company has a market capitalization of $2.98 billion, a P/E ratio of 16.78 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th 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 2.07%. The ex-dividend date is Friday, June 7th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Activity

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the sale, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock worth $2,464,841 in the last ninety days. Company insiders own 2.08% of the company’s stock.

Institutional Trading of Steven Madden

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Steven Madden in the fourth quarter valued at approximately $32,000. Fidelis Capital Partners LLC purchased a new position in shares of Steven Madden in the first quarter valued at approximately $47,000. International Assets Investment Management LLC lifted its position in shares of Steven Madden by 4,100.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 1,599 shares in the last quarter. Covestor Ltd lifted its position in shares of Steven Madden by 32.9% in the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock valued at $169,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Steven Madden in the first quarter valued at approximately $170,000. 99.88% of the stock is owned by institutional investors and hedge funds.

About Steven Madden

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.