Wall Street analysts expect that Steven Madden, Ltd. (NASDAQ:SHOO) will post $353.81 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Steven Madden’s earnings, with estimates ranging from $350.00 million to $356.40 million. Steven Madden reported sales of $325.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The business is scheduled to issue its next earnings results on Tuesday, August 1st.
On average, analysts expect that Steven Madden will report full-year sales of $353.81 million for the current year, with estimates ranging from $1.52 billion to $1.54 billion. For the next financial year, analysts expect that the business will post sales of $1.60 billion per share, with estimates ranging from $1.57 billion to $1.62 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Steven Madden.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Friday, April 21st. The textile maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Steven Madden had a net margin of 5.60% and a return on equity of 10.94%. The business had revenue of $366.40 million during the quarter, compared to analyst estimates of $359.52 million. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis.
Several equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Piper Jaffray Companies set a $41.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Canaccord Genuity lifted their price target on shares of Steven Madden from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Jefferies Group LLC reiterated a “hold” rating and set a $37.00 price target on shares of Steven Madden in a research report on Monday, April 3rd. Finally, Citigroup Inc lifted their price target on shares of Steven Madden from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Steven Madden currently has an average rating of “Buy” and an average target price of $41.00.
In related news, Director Richard P. Randall sold 2,454 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $38.48, for a total transaction of $94,429.92. Following the completion of the transaction, the director now owns 24,551 shares in the company, valued at $944,722.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Karla Frieders sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $38.99, for a total transaction of $2,339,400.00. Following the transaction, the insider now owns 148,216 shares of the company’s stock, valued at approximately $5,778,941.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,054 shares of company stock valued at $2,832,284. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. Envestnet Asset Management Inc. raised its position in shares of Steven Madden by 15.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,823 shares of the textile maker’s stock worth $208,000 after buying an additional 765 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Steven Madden during the fourth quarter worth $204,000. Dimensional Fund Advisors LP raised its position in shares of Steven Madden by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,517,039 shares of the textile maker’s stock worth $54,236,000 after buying an additional 51,730 shares during the last quarter. State Street Corp raised its position in shares of Steven Madden by 5.3% in the fourth quarter. State Street Corp now owns 1,335,937 shares of the textile maker’s stock worth $47,761,000 after buying an additional 67,187 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Steven Madden during the first quarter worth $250,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Steven Madden (SHOO) traded up 1.27% during mid-day trading on Wednesday, reaching $39.75. 437,783 shares of the company traded hands. The firm has a market cap of $2.36 billion, a PE ratio of 19.92 and a beta of 0.43. The stock’s 50-day moving average price is $38.21 and its 200-day moving average price is $37.23. Steven Madden has a one year low of $32.14 and a one year high of $40.55.
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Steven Madden Company Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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