Steven Madden, Ltd. (NASDAQ:SHOO) Given Consensus Recommendation of “Hold” by Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $44.29.

A number of equities research analysts recently commented on the company. BTIG Research lifted their price objective on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Wedbush reissued a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research note on Wednesday, July 31st.

Steven Madden Stock Performance

NASDAQ SHOO opened at $48.99 on Tuesday. The stock has a fifty day moving average of $44.69 and a 200-day moving average of $42.97. The stock has a market capitalization of $3.59 billion, a P/E ratio of 20.24 and a beta of 1.08. Steven Madden has a 52 week low of $31.01 and a 52 week high of $49.29.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities research analysts forecast that Steven Madden will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were issued a $0.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.71%. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

Institutional Trading of Steven Madden

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Steven Madden in the first quarter valued at about $47,000. EntryPoint Capital LLC bought a new stake in shares of Steven Madden in the first quarter valued at about $81,000. nVerses Capital LLC lifted its holdings in shares of Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Steven Madden in the first quarter valued at about $170,000. 99.88% of the stock is currently owned by institutional investors.

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.