$442.13 Million in Sales Expected for Steven Madden, Ltd. (SHOO) This Quarter
Wall Street analysts expect Steven Madden, Ltd. (NASDAQ:SHOO) to report sales of $442.13 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Steven Madden’s earnings, with the lowest sales estimate coming in at $439.70 million and the highest estimate coming in at $445.52 million. Steven Madden reported sales of $408.38 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The business is expected to report its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Steven Madden will report full year sales of $442.13 million for the current fiscal year, with estimates ranging from $1.52 billion to $1.55 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.62 billion per share, with estimates ranging from $1.59 billion to $1.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Steven Madden.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $374.15 million for the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a return on equity of 15.64% and a net margin of 7.76%. Steven Madden’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS.
SHOO has been the topic of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Wednesday, April 19th. Citigroup Inc. boosted their price objective on Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 26th. Zacks Investment Research lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, Telsey Advisory Group boosted their price objective on Steven Madden from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Steven Madden has an average rating of “Buy” and a consensus price target of $43.71.
Steven Madden (SHOO) traded down 0.058% during mid-day trading on Tuesday, hitting $43.125. The stock had a trading volume of 270,245 shares. Steven Madden has a 52 week low of $32.30 and a 52 week high of $43.80. The company’s 50 day moving average is $40.33 and its 200-day moving average is $38.22. The stock has a market capitalization of $2.55 billion, a P/E ratio of 20.763 and a beta of 0.53.
In other news, insider Karla Frieders sold 5,000 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the transaction, the insider now directly owns 83,216 shares in the company, valued at approximately $3,212,969.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Arvind Dharia sold 20,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.22, for a total value of $804,400.00. Following the completion of the transaction, the chief financial officer now owns 66,662 shares of the company’s stock, valued at $2,681,145.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,740 shares of company stock valued at $4,832,677. 2.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of SHOO. CS Mckee LP boosted its position in Steven Madden by 0.5% in the second quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock worth $886,000 after buying an additional 100 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Steven Madden by 72.8% in the second quarter. Cubist Systematic Strategies LLC now owns 19,507 shares of the textile maker’s stock worth $779,000 after buying an additional 8,217 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in Steven Madden during the second quarter worth about $2,675,000. State Street Corp boosted its position in Steven Madden by 5.2% in the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock worth $60,144,000 after buying an additional 75,022 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Steven Madden during the second quarter worth about $1,416,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
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Steven Madden Company Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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