Zacks Research Brokers Reduce Earnings Estimates for Steven Madden, Ltd. (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) – Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Steven Madden in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now forecasts that the textile maker will post earnings of $0.50 per share for the quarter, down from their previous estimate of $0.52. 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 $0.55 EPS, FY2024 earnings at $2.60 EPS, Q1 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.64 EPS, Q1 2026 earnings at $0.72 EPS and FY2026 earnings at $3.08 EPS.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The company had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. During the same period last year, the business earned $0.50 EPS. Steven Madden’s quarterly revenue was up 19.1% compared to the same quarter last year.

SHOO has been the subject of several other reports. Piper Sandler started coverage on Steven Madden in a report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Williams Trading restated a “hold” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. Citigroup lifted their price objective on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, Wedbush reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Friday, May 17th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $41.75.

Steven Madden Price Performance

SHOO opened at $42.84 on Thursday. The firm has a market capitalization of $3.14 billion, a P/E ratio of 17.70 and a beta of 1.15. The company’s 50-day moving average is $40.81 and its 200 day moving average is $40.89. Steven Madden has a fifty-two week low of $29.92 and a fifty-two week high of $45.63.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, June 10th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.96%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, CFO Zine Mazouzi sold 7,246 shares of Steven Madden stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the completion of the sale, the chief financial officer now directly owns 68,785 shares in the company, valued at approximately $2,865,583.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total transaction of $301,868.36. Following the completion of the sale, the chief financial officer now owns 68,785 shares of the company’s stock, valued at $2,865,583.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now directly owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,346 shares of company stock worth $2,464,841. 2.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its holdings in Steven Madden by 2.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,979 shares of the textile maker’s stock worth $444,000 after purchasing an additional 315 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Steven Madden by 5.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock valued at $240,000 after buying an additional 363 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Steven Madden by 1.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock worth $1,092,000 after purchasing an additional 482 shares during the last quarter. Yousif Capital Management LLC grew its stake in Steven Madden by 1.8% during the 4th quarter. Yousif Capital Management LLC now owns 35,824 shares of the textile maker’s stock worth $1,505,000 after buying an additional 634 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Steven Madden by 6.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,185 shares of the textile maker’s stock valued at $554,000 after acquiring an additional 761 shares during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.