According to Zacks, “Shares of Steve Madden have lagged the industry in the past month. Notably, it is facing the heat from escalated trade war between the United States and China. This may lead to store closures which in turn may hurt Steve Madden’s bottom line. Moreover, rise in cost of goods sold and elevated operating costs may weigh on margins in the future. However, the company is gaining from robust performance at its flagship Steve Madden brand in both footwear and accessories that led management to raise 2019 view. The addition of Anne Klein and solid e-commerce business also contributed to the better-than-expected first quarter 2019 results. Further, its expansion plans remain on track as double-digit sales growth is projected in the international market. Moreover, sturdy performance in wholesale business may lift the company’s top line in the near term. In fact, sales are expected to grow 5-7% for 2019, up from the prior view of 4%-6% growth.”
SHOO has been the subject of several other research reports. BidaskClub downgraded Steven Madden from a hold rating to a sell rating in a research report on Wednesday, April 10th. ValuEngine downgraded Steven Madden from a hold rating to a sell rating in a research report on Wednesday. Telsey Advisory Group downgraded Steven Madden from an outperform rating to a market perform rating and lowered their price objective for the company from $40.00 to $37.00 in a research report on Thursday, January 31st. Piper Jaffray Companies set a $38.00 price objective on Steven Madden and gave the company a buy rating in a research report on Friday, April 26th. Finally, B. Riley reiterated a buy rating and issued a $38.00 price objective on shares of Steven Madden in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Steven Madden presently has a consensus rating of Hold and a consensus target price of $35.33.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.05. Steven Madden had a return on equity of 19.36% and a net margin of 8.06%. The firm had revenue of $410.90 million during the quarter, compared to the consensus estimate of $404.31 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Steven Madden will post 1.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 18th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, June 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. Steven Madden’s dividend payout ratio is presently 30.60%.
In related news, Director Rose Peabody Lynch sold 2,760 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $35.83, for a total transaction of $98,890.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Paradise sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total value of $71,980.00. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. purchased a new stake in Steven Madden in the fourth quarter worth $42,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Steven Madden in the fourth quarter worth $699,000. Deutsche Bank AG boosted its position in shares of Steven Madden by 165.2% during the fourth quarter. Deutsche Bank AG now owns 391,497 shares of the textile maker’s stock valued at $11,844,000 after buying an additional 243,875 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Steven Madden by 56.1% during the fourth quarter. Macquarie Group Ltd. now owns 3,600,261 shares of the textile maker’s stock valued at $108,949,000 after buying an additional 1,293,591 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Steven Madden by 583.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,186 shares of the textile maker’s stock valued at $853,000 after buying an additional 24,062 shares during the last quarter. Institutional investors own 99.40% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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