Citigroup Issues Pessimistic Forecast for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOOGet Free Report) had its price objective cut by stock analysts at Citigroup from $45.00 to $38.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. Citigroup’s target price would indicate a potential upside of 1.90% from the company’s previous close.

Other research analysts have also issued reports about the company. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler dropped their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. Telsey Advisory Group cut their price target on Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.33.

Check Out Our Latest Report on SHOO

Steven Madden Stock Performance

Shares of SHOO traded down $1.03 during mid-day trading on Tuesday, hitting $37.29. The company’s stock had a trading volume of 1,428,568 shares, compared to its average volume of 668,344. Steven Madden has a one year low of $36.90 and a one year high of $50.01. The firm has a market capitalization of $2.69 billion, a PE ratio of 15.87 and a beta of 1.07. The stock’s 50-day moving average is $42.57 and its two-hundred day moving average is $44.26.

Steven Madden (NASDAQ:SHOOGet Free Report) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. Analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after acquiring an additional 528,619 shares in the last quarter. Geode Capital Management LLC lifted its stake in Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Steven Madden in the 3rd quarter valued at approximately $2,614,000. Systematic Financial Management LP lifted its stake in Steven Madden by 15.9% in the 3rd quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after acquiring an additional 60,276 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Steven Madden by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock worth $22,638,000 after purchasing an additional 21,942 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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