Q1 2018 EPS Estimates for Steven Madden, Ltd. (SHOO) Raised by Analyst
Steven Madden, Ltd. (NASDAQ:SHOO) – Equities researchers at KeyCorp increased their Q1 2018 earnings per share (EPS) estimates for Steven Madden in a report released on Wednesday. KeyCorp analyst E. Yruma now anticipates that the textile maker will earn $0.56 per share for the quarter, up from their previous estimate of $0.50. KeyCorp also issued estimates for Steven Madden’s Q3 2018 earnings at $0.98 EPS.
SHOO has been the subject of a number of other reports. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, September 28th. Piper Jaffray Companies set a $51.00 price target on Steven Madden and gave the company a “buy” rating in a report on Monday, January 8th. Telsey Advisory Group lowered their price target on Steven Madden from $45.00 to $44.00 and set an “outperform” rating for the company in a report on Wednesday, November 1st. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $48.00 price target on shares of Steven Madden in a report on Tuesday, November 7th. Finally, ValuEngine downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.21.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The firm had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share.
Several hedge funds have recently bought and sold shares of SHOO. Schwab Charles Investment Management Inc. boosted its holdings in shares of Steven Madden by 9.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 384,630 shares of the textile maker’s stock valued at $15,366,000 after acquiring an additional 34,309 shares during the period. Principal Financial Group Inc. raised its stake in shares of Steven Madden by 0.3% during the second quarter. Principal Financial Group Inc. now owns 445,698 shares of the textile maker’s stock worth $17,805,000 after purchasing an additional 1,223 shares during the last quarter. Eaton Vance Management purchased a new stake in shares of Steven Madden during the second quarter worth approximately $1,573,000. Wells Fargo & Company MN raised its stake in shares of Steven Madden by 386.5% during the second quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock worth $27,924,000 after purchasing an additional 555,283 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Steven Madden by 4.1% during the second quarter. Alliancebernstein L.P. now owns 91,961 shares of the textile maker’s stock worth $3,674,000 after purchasing an additional 3,600 shares during the last quarter. 92.98% of the stock is owned by institutional investors and hedge funds.
In other news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the completion of the sale, the director now directly owns 22,809 shares of the company’s stock, valued at $867,882.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total value of $1,069,500.00. Following the completion of the sale, the president now directly owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The disclosure for this sale can be found here. Insiders sold 34,000 shares of company stock valued at $1,460,100 over the last three months. Corporate insiders own 2.06% 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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