Steven Madden (NASDAQ:SHOO) Stock Price Expected to Rise, Citigroup Analyst Says

Steven Madden (NASDAQ:SHOO - Free Report) had its price objective boosted by Citigroup from $43.00 to $45.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the textile maker's stock.

A number of other equities analysts have also issued reports on SHOO. Wedbush reissued a "neutral" rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. StockNews.com upgraded Steven Madden from a "hold" rating to a "buy" rating in a research report on Wednesday, September 18th. Telsey Advisory Group reissued a "market perform" rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday. Finally, Piper Sandler restated a "neutral" rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $45.43.

Steven Madden Stock Down 2.1 %

NASDAQ SHOO traded down $0.97 during trading hours on Friday, hitting $44.63. The company had a trading volume of 1,340,635 shares, compared to its average volume of 707,524. The firm has a market cap of $3.24 billion, a P/E ratio of 18.99 and a beta of 1.08. Steven Madden has a fifty-two week low of $32.71 and a fifty-two week high of $50.01. The business has a fifty day simple moving average of $46.41 and a 200-day simple moving average of $44.16.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analysts' expectations of $607.89 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. Equities analysts forecast that Steven Madden will post 2.62 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Seven Eight Capital LP grew its stake in shares of Steven Madden by 902.5% in the 1st quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker's stock worth $2,083,000 after purchasing an additional 44,351 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Steven Madden by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker's stock valued at $2,066,000 after buying an additional 35,761 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Steven Madden during the 1st quarter valued at $1,968,000. Magnetar Financial LLC bought a new stake in shares of Steven Madden during the 1st quarter worth $876,000. Finally, Jane Street Group LLC boosted its stake in shares of Steven Madden by 36.9% during the 1st 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. 99.88% of the stock is currently owned by institutional investors.

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.