Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Recommendation of “Hold” from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $40.33.

A number of equities research analysts have recently issued reports on SHOO shares. Telsey Advisory Group reduced their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday. Piper Sandler reduced their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Citigroup reduced their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday. Loop Capital cut their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th.

Steven Madden Price Performance

SHOO stock opened at $33.22 on Friday. The company has a fifty day moving average price of $40.27 and a two-hundred day moving average price of $43.56. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 14.14 and a beta of 1.07. Steven Madden has a one year low of $32.81 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Research analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 2.53%. Steven Madden’s dividend payout ratio is 35.74%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in Steven Madden during the third quarter worth about $36,000. R Squared Ltd acquired a new position in Steven Madden during the fourth quarter worth about $55,000. Exchange Traded Concepts LLC acquired a new position in Steven Madden during the third quarter worth about $59,000. Quarry LP raised its stake in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after acquiring an additional 785 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.