Steven Madden (NASDAQ:SHOO) released its quarterly earnings results on Tuesday. The textile maker reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04, MarketWatch Earnings reports. Steven Madden had a net margin of 8.79% and a return on equity of 18.05%. The business had revenue of $458.48 million for the quarter, compared to analysts’ expectations of $472.80 million. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Steven Madden updated its FY 2018 guidance to $1.76-1.78 EPS and its FY18 guidance to $1.76-1.78 EPS.
SHOO opened at $31.27 on Thursday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.69 and a beta of 0.53. Steven Madden has a twelve month low of $24.83 and a twelve month high of $39.30.
Several research analysts recently weighed in on SHOO shares. Wedbush cut shares of Steven Madden from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $34.00 to $36.67 in a report on Wednesday, July 11th. They noted that the move was a valuation call. BidaskClub cut shares of Steven Madden from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Zacks Investment Research cut shares of Steven Madden from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Canaccord Genuity set a $39.33 price target on shares of Steven Madden and gave the stock a “buy” rating in a report on Monday, July 30th. Finally, Loop Capital restated a “hold” rating and set a $36.00 price target on shares of Steven Madden in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Steven Madden has an average rating of “Hold” and an average target price of $37.52.
About Steven Madden
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, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
Further Reading: Technical Analysis
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