Steven Madden, Ltd. (SHOO) Expected to Post Earnings of $0.93 Per Share

Wall Street brokerages expect that Steven Madden, Ltd. (NASDAQ:SHOO) will report $0.93 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Steven Madden’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $0.98. Steven Madden reported earnings per share of $0.77 in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.8%. The business is scheduled to announce its next earnings results on Tuesday, October 30th.

On average, analysts expect that Steven Madden will report full-year earnings of $2.68 per share for the current financial year, with EPS estimates ranging from $2.66 to $2.73. For the next financial year, analysts anticipate that the business will post earnings of $2.97 per share, with EPS estimates ranging from $2.89 to $3.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Steven Madden.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, July 31st. The textile maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $395.80 million for the quarter, compared to analyst estimates of $390.57 million. Steven Madden had a return on equity of 17.01% and a net margin of 8.17%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS.

A number of research analysts recently weighed in on SHOO shares. BidaskClub lowered Steven Madden from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Canaccord Genuity boosted their target price on Steven Madden from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, June 7th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Thursday, June 21st. B. Riley set a $58.00 target price on Steven Madden and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Buckingham Research boosted their target price on Steven Madden from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 16th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $54.58.

Shares of SHOO stock traded down $0.45 during trading on Friday, reaching $53.80. 870,800 shares of the company’s stock were exchanged, compared to its average volume of 431,981. The firm has a market capitalization of $3.19 billion, a PE ratio of 24.02, a PEG ratio of 1.91 and a beta of 0.51. Steven Madden has a twelve month low of $37.25 and a twelve month high of $58.95.

Shares of Steven Madden are going to split before the market opens on Friday, October 12th. The 3-2 split was announced on Monday, September 17th. The newly created shares will be distributed to shareholders after the closing bell on Thursday, October 11th.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Monday, September 17th. Steven Madden’s dividend payout ratio is 35.71%.

In other Steven Madden news, COO Awadhesh K. Sinha sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total value of $230,000.00. Following the transaction, the chief operating officer now directly owns 57,845 shares of the company’s stock, valued at approximately $3,326,087.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rose Peabody Lynch sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $57.27, for a total value of $143,175.00. Following the completion of the transaction, the director now directly owns 7,103 shares in the company, valued at $406,788.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,500 shares of company stock worth $771,405. Insiders own 1.77% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. Wells Fargo & Company MN raised its position in Steven Madden by 3.5% during the 1st quarter. Wells Fargo & Company MN now owns 840,007 shares of the textile maker’s stock valued at $36,876,000 after purchasing an additional 28,586 shares during the last quarter. Swiss National Bank increased its stake in shares of Steven Madden by 2.8% in the first quarter. Swiss National Bank now owns 92,650 shares of the textile maker’s stock valued at $4,067,000 after buying an additional 2,500 shares during the period. State of Wisconsin Investment Board acquired a new stake in shares of Steven Madden in the first quarter valued at about $7,683,000. Schwab Charles Investment Management Inc. increased its stake in shares of Steven Madden by 3.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 443,865 shares of the textile maker’s stock valued at $19,486,000 after buying an additional 13,758 shares during the period. Finally, Cim Investment Mangement Inc. increased its stake in shares of Steven Madden by 68.2% in the first quarter. Cim Investment Mangement Inc. now owns 8,743 shares of the textile maker’s stock valued at $384,000 after buying an additional 3,546 shares during the period. 95.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Company Profile

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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