Steven Madden, Ltd. (NASDAQ:SHOO) Receives $44.29 Consensus Target Price from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given an average recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $44.29.

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

Steven Madden Trading Up 0.6 %

SHOO stock opened at $48.69 on Tuesday. The firm has a 50 day moving average of $44.60 and a 200-day moving average of $42.92. Steven Madden has a 12-month low of $30.87 and a 12-month high of $49.29. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 20.12 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Aristides Capital LLC bought a new position in Steven Madden in the 2nd quarter worth $261,000. Creative Planning increased its stake in Steven Madden by 78.7% in the second quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock valued at $456,000 after acquiring an additional 4,752 shares during the period. Algert Global LLC bought a new stake in Steven Madden in the second quarter valued at about $299,000. Scientech Research LLC acquired a new position in Steven Madden in the second quarter valued at about $821,000. Finally, Mackenzie Financial Corp boosted its position in Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after buying an additional 248 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Steven Madden

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.