Steven Madden, Ltd. (NASDAQ:SHOO) Stock Has Average Target Price of $52.20 According to Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $51.70.

A number of brokerages recently weighed in on SHOO. Citigroup restated a “buy” rating and set a $55.00 target price (up from $45.00) on shares of Steven Madden in a report on Friday, July 31st. Wall Street Zen upgraded Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Needham & Company LLC cut their price objective on Steven Madden from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. BTIG Research reissued a “buy” rating and set a $55.00 price objective on shares of Steven Madden in a research note on Tuesday, October 27th. Finally, Jefferies Financial Group upgraded Steven Madden from an “underperform” rating to a “hold” rating and set a $36.00 target price on the stock in a report on Friday, November 6th.

Steven Madden Stock Down 3.6%

SHOO opened at $41.18 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.86. The company has a market capitalization of $3.01 billion, a PE ratio of 17.02 and a beta of 1.14. The stock’s fifty day moving average is $43.66 and its 200-day moving average is $41.32. Steven Madden has a one year low of $31.33 and a one year high of $49.70.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 5th. The textile maker reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $772.61 million during the quarter, compared to analysts’ expectations of $774.35 million. Steven Madden had a return on equity of 16.19% and a net margin of 6.16%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities analysts predict that Steven Madden will post 2.20 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 11th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 11th. Steven Madden’s dividend payout ratio is currently 34.71%.

Hedge Funds Weigh In On Steven Madden

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Steven Madden in the second quarter worth about $32,000. Global Retirement Partners LLC raised its holdings in shares of Steven Madden by 34.5% during the third quarter. Global Retirement Partners LLC now owns 1,030 shares of the textile maker’s stock valued at $46,000 after acquiring an additional 264 shares during the period. Signature Resources Capital Management LLC acquired a new stake in shares of Steven Madden during the first quarter valued at approximately $49,000. Hantz Financial Services Inc. raised its holdings in shares of Steven Madden by 19.2% during the third quarter. Hantz Financial Services Inc. now owns 1,559 shares of the textile maker’s stock valued at $70,000 after acquiring an additional 251 shares during the period. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Steven Madden during the third quarter valued at approximately $86,000. 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 footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson. The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets. Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.