Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Recommendation of “Hold” by Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.29.

A number of brokerages have issued reports on SHOO. BTIG Research upped their price target on shares of Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush restated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd.

Steven Madden Price Performance

Steven Madden stock opened at $48.11 on Tuesday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 19.88 and a beta of 1.08. Steven Madden has a 1 year low of $30.35 and a 1 year high of $48.76. The firm has a 50-day moving average of $44.26 and a two-hundred day moving average of $42.73.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. Steven Madden’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 EPS. Research analysts expect that Steven Madden will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were paid a $0.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.75%. Steven Madden’s dividend payout ratio is currently 34.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in shares of Steven Madden by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after acquiring an additional 248 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after acquiring an additional 484 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Steven Madden by 7.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock valued at $329,000 after acquiring an additional 535 shares during the last quarter. Sei Investments Co. increased its position in Steven Madden by 0.5% during the 2nd quarter. Sei Investments Co. now owns 125,678 shares of the textile maker’s stock worth $5,316,000 after purchasing an additional 590 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Steven Madden by 6.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock worth $554,000 after purchasing an additional 761 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

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.