FY2018 EPS Estimates for Steven Madden, Ltd. (SHOO) Increased by B. Riley

Steven Madden, Ltd. (NASDAQ:SHOO) – B. Riley boosted their FY2018 EPS estimates for shares of Steven Madden in a research note issued to investors on Wednesday, October 31st. B. Riley analyst J. Van. Sinderen now forecasts that the textile maker will earn $1.79 per share for the year, up from their previous estimate of $1.78. B. Riley has a “Buy” rating and a $38.67 price objective on the stock. B. Riley also issued estimates for Steven Madden’s Q4 2018 earnings at $0.37 EPS.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 30th. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The company had revenue of $458.48 million during the quarter, compared to analyst estimates of $472.80 million. Steven Madden had a net margin of 8.79% and a return on equity of 18.05%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS.

A number of other analysts have also weighed in on the stock. Loop Capital raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, October 30th. Wedbush reduced their price target on shares of Steven Madden from $55.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Wells Fargo & Co reduced their price target on shares of Steven Madden from $50.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, October 22nd. Zacks Investment Research lowered shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Citigroup reduced their price target on shares of Steven Madden from $40.67 to $38.00 and set a “buy” rating for the company in a research note on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.52.

Shares of NASDAQ:SHOO opened at $32.41 on Friday. The company has a market capitalization of $2.84 billion, a PE ratio of 21.75, a P/E/G ratio of 1.70 and a beta of 0.66. Steven Madden has a twelve month low of $24.90 and a twelve month high of $39.30.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. NumerixS Investment Technologies Inc raised its holdings in shares of Steven Madden by 81.8% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock worth $108,000 after purchasing an additional 900 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Steven Madden in the 2nd quarter worth approximately $113,000. WINTON GROUP Ltd bought a new stake in shares of Steven Madden in the 2nd quarter worth approximately $213,000. CIBC Asset Management Inc bought a new stake in shares of Steven Madden in the 2nd quarter worth approximately $226,000. Finally, Strs Ohio raised its holdings in shares of Steven Madden by 27.0% in the 2nd quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock worth $249,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 63.95% of the company’s stock.

In related news, insider Karla Frieders sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $56.89, for a total value of $398,230.00. Following the sale, the insider now directly owns 75,280 shares in the company, valued at approximately $4,282,679.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rose Peabody Lynch sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $57.27, for a total transaction of $143,175.00. Following the completion of the sale, the director now owns 7,103 shares in the company, valued at $406,788.81. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock worth $771,405 over the last quarter. Insiders own 1.77% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 21st will be issued a $0.14 dividend. This is an increase from Steven Madden’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 20th. Steven Madden’s payout ratio is presently 35.57%.

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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Earnings History and Estimates for Steven Madden (NASDAQ:SHOO)

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