Steven Madden (NASDAQ:SHOO) had its price target trimmed by Wedbush from $24.00 to $23.00 in a report published on Thursday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the textile maker’s stock. Wedbush also issued estimates for Steven Madden’s Q2 2020 earnings at ($0.23) EPS and FY2020 earnings at $0.50 EPS.
A number of other research analysts have also recently commented on SHOO. ValuEngine upgraded Steven Madden from a sell rating to a hold rating in a research note on Friday, May 1st. UBS Group initiated coverage on Steven Madden in a research note on Wednesday, July 22nd. They issued a neutral rating and a $23.00 price objective on the stock. Zacks Investment Research cut Steven Madden from a hold rating to a sell rating and set a $26.00 price objective on the stock. in a research note on Wednesday, May 27th. Citigroup dropped their price objective on Steven Madden from $28.00 to $23.00 and set a neutral rating on the stock in a report on Friday, April 24th. Finally, Wells Fargo & Co lowered Steven Madden from an equal weight rating to an underweight rating and dropped their price objective for the stock from $26.00 to $18.00 in a report on Thursday, May 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.20.
NASDAQ:SHOO traded down $1.23 during trading hours on Thursday, reaching $21.18. 1,330,305 shares of the stock were exchanged, compared to its average volume of 682,606. The business has a 50-day moving average of $23.03 and a two-hundred day moving average of $27.58. Steven Madden has a twelve month low of $16.38 and a twelve month high of $44.79. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 51.66, a PEG ratio of 2.53 and a beta of 1.14.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, July 29th. The textile maker reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. Steven Madden had a return on equity of 10.70% and a net margin of 2.56%. The company had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $181.48 million. During the same period in the prior year, the firm earned $0.47 earnings per share. The firm’s revenue was down 67.9% compared to the same quarter last year. As a group, analysts forecast that Steven Madden will post 0.52 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC lifted its position in Steven Madden by 1.7% in the fourth quarter. Mason Street Advisors LLC now owns 26,948 shares of the textile maker’s stock valued at $1,159,000 after purchasing an additional 439 shares during the period. Brinker Capital Inc. raised its position in shares of Steven Madden by 4.2% during the 1st quarter. Brinker Capital Inc. now owns 11,751 shares of the textile maker’s stock worth $273,000 after purchasing an additional 477 shares during the last quarter. Swiss National Bank raised its position in shares of Steven Madden by 0.3% during the 1st quarter. Swiss National Bank now owns 154,925 shares of the textile maker’s stock worth $3,599,000 after purchasing an additional 500 shares during the last quarter. US Bancorp DE raised its position in shares of Steven Madden by 5.0% during the 1st quarter. US Bancorp DE now owns 15,651 shares of the textile maker’s stock worth $363,000 after purchasing an additional 752 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Steven Madden by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 144,085 shares of the textile maker’s stock worth $6,197,000 after purchasing an additional 994 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.
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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.
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