Steven Madden, Ltd. (SHOO) to Post Q3 2018 Earnings of $0.94 Per Share, B. Riley Forecasts

Steven Madden, Ltd. (NASDAQ:SHOO) – Research analysts at B. Riley lifted their Q3 2018 earnings per share estimates for shares of Steven Madden in a report issued on Tuesday. B. Riley analyst J. Van. Sinderen now forecasts that the textile maker will earn $0.94 per share for the quarter, up from their previous estimate of $0.85. B. Riley currently has a “Buy” rating and a $52.00 target price on the stock.

Several other research firms have also commented on SHOO. Wells Fargo & Co set a $46.00 price target on shares of Steven Madden and gave the company a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $51.00 price target (up previously from $44.00) on shares of Steven Madden in a research report on Tuesday. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, Canaccord Genuity set a $50.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research report on Sunday, January 7th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.21.

Steven Madden (SHOO) traded up $0.70 on Wednesday, reaching $48.30. 459,500 shares of the company’s stock were exchanged, compared to its average volume of 491,875. Steven Madden has a twelve month low of $33.50 and a twelve month high of $48.80. The stock has a market cap of $2,850.00, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.81 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million for the quarter, compared to analyst estimates of $441.03 million. During the same period last year, the company posted $0.74 EPS. The business’s revenue was up 8.0% on a year-over-year basis.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the business’s 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 sale, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Amelia Varela sold 25,000 shares of the business’s 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 in the company, valued at approximately $4,834,439.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,000 shares of company stock worth $1,460,100. Corporate insiders own 2.06% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its position in Steven Madden by 0.4% in the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock valued at $324,000 after purchasing an additional 32 shares during the period. CS Mckee LP raised 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 valued at $886,000 after purchasing an additional 100 shares during the period. PNC Financial Services Group Inc. raised its position in Steven Madden by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock valued at $763,000 after purchasing an additional 189 shares during the period. State Board of Administration of Florida Retirement System raised its position in Steven Madden by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,280 shares of the textile maker’s stock valued at $2,129,000 after purchasing an additional 217 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after purchasing an additional 415 shares during the period. 92.98% of the stock is currently owned by institutional investors.

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About Steven Madden

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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