Zacks Research Analysts Decrease Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO - Free Report) - Investment analysts at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Steven Madden in a research note issued on Wednesday, August 21st. Zacks Research analyst R. Department now anticipates that the textile maker will post earnings of $0.90 per share for the quarter, down from their prior estimate of $0.91. The consensus estimate for Steven Madden's current full-year earnings is $2.62 per share. Zacks Research also issued estimates for Steven Madden's Q4 2024 earnings at $0.50 EPS, Q1 2025 earnings at $0.68 EPS, Q4 2025 earnings at $0.60 EPS, FY2025 earnings at $2.90 EPS and Q1 2026 earnings at $0.73 EPS.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The business had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company's revenue for the quarter was up 17.6% compared to the same quarter last year.

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

Steven Madden Stock Performance

Shares of SHOO stock traded up $1.19 during midday trading on Friday, reaching $45.16. 406,668 shares of the company were exchanged, compared to its average volume of 722,400. The company has a market cap of $3.31 billion, a P/E ratio of 18.66 and a beta of 1.09. Steven Madden has a 12 month low of $30.35 and a 12 month high of $47.24. The company's 50 day moving average price is $43.38 and its two-hundred day moving average price is $42.38.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 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 1.86%. The ex-dividend date of this dividend is Friday, September 13th. Steven Madden's dividend payout ratio is currently 34.71%.

Insider Activity

In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares of the company's stock, valued at $946,066.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the transaction, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of the company's stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total transaction of $71,056.00. Following the completion of the transaction, the director now owns 21,303 shares in the company, valued at $946,066.23. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock valued at $651,586 over the last three months. 2.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Steven Madden during the fourth quarter worth approximately $19,846,000. Ranger Investment Management L.P. raised its holdings in Steven Madden by 36.8% in the 4th quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker's stock valued at $23,560,000 after acquiring an additional 150,852 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Steven Madden by 8.6% during the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker's stock valued at $78,472,000 after acquiring an additional 146,324 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Steven Madden during the 1st quarter worth $5,834,000. Finally, Victory Capital Management Inc. increased its position in shares of Steven Madden by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker's stock worth $61,151,000 after purchasing an additional 136,171 shares during the period. 99.88% of the stock is currently 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.