Steven Madden, Ltd. (NASDAQ:SHOO) – Equities researchers at B. Riley increased their Q2 2020 earnings estimates for shares of Steven Madden in a report issued on Monday, October 21st. B. Riley analyst S. Anderson now anticipates that the textile maker will post earnings of $0.51 per share for the quarter, up from their previous forecast of $0.50. B. Riley has a “Buy” rating and a $42.00 price objective on the stock.
Several other research firms have also recently commented on SHOO. Zacks Investment Research cut shares of Steven Madden from a “hold” rating to a “sell” rating and set a $35.00 price objective on the stock. in a research report on Thursday, July 18th. ValuEngine cut shares of Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup set a $37.00 price objective on shares of Steven Madden and gave the company a “hold” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.50.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, July 30th. The textile maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Steven Madden had a net margin of 8.07% and a return on equity of 19.90%. The firm had revenue of $444.97 million during the quarter, compared to analyst estimates of $420.40 million. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 12.4% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.56 annualized dividend and a yield of 1.53%. Steven Madden’s payout ratio is currently 30.60%.
In other Steven Madden news, Director Peter Migliorini sold 3,000 shares of Steven Madden stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.17, for a total value of $108,510.00. Following the sale, the director now directly owns 11,204 shares in the company, valued at approximately $405,248.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Arvind Dharia sold 7,500 shares of Steven Madden stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $36.30, for a total transaction of $272,250.00. Following the completion of the sale, the chief financial officer now owns 102,107 shares in the company, valued at $3,706,484.10. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. CWM LLC increased its stake in shares of Steven Madden by 740.7% during the 3rd quarter. CWM LLC now owns 765 shares of the textile maker’s stock worth $27,000 after purchasing an additional 674 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Steven Madden by 97.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,015 shares of the textile maker’s stock worth $36,000 after purchasing an additional 500 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Steven Madden during the 2nd quarter worth about $39,000. Edge Wealth Management LLC increased its stake in shares of Steven Madden by 51.3% during the 3rd quarter. Edge Wealth Management LLC now owns 2,950 shares of the textile maker’s stock worth $105,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Steven Madden during the 2nd quarter worth about $233,000. Hedge funds and other institutional investors own 96.56% 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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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