Q1 2024 EPS Estimates for Steven Madden, Ltd. Cut by Wedbush (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOOFree Report) – Analysts at Wedbush cut their Q1 2024 earnings estimates for Steven Madden in a research report issued on Tuesday, February 6th. Wedbush analyst T. Nikic now expects that the textile maker will post earnings per share of $0.52 for the quarter, down from their prior forecast of $0.53. Wedbush currently has a “Neutral” rating and a $38.00 target price on the stock. The consensus estimate for Steven Madden’s current full-year earnings is $2.40 per share. Wedbush also issued estimates for Steven Madden’s Q2 2024 earnings at $0.53 EPS.

Steven Madden (NASDAQ:SHOOGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Steven Madden had a net margin of 8.68% and a return on equity of 20.30%. The company had revenue of $552.73 million for the quarter, compared to analyst estimates of $548.98 million. During the same quarter last year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the stock. Citigroup downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Wednesday. Telsey Advisory Group restated a “market perform” rating and issued a $39.00 price objective on shares of Steven Madden in a research note on Wednesday, November 15th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $40.00 price objective on shares of Steven Madden in a research note on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.14.

View Our Latest Stock Report on Steven Madden

Steven Madden Stock Up 1.9 %

NASDAQ:SHOO opened at $41.75 on Thursday. The company’s 50 day moving average is $41.74 and its 200-day moving average is $36.58. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 18.72 and a beta of 1.17. Steven Madden has a 12 month low of $29.92 and a 12 month high of $44.23.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Steven Madden during the fourth quarter worth $32,000. Belpointe Asset Management LLC lifted its holdings in shares of Steven Madden by 83.9% during the first quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker’s stock valued at $36,000 after acquiring an additional 455 shares during the period. Industrial Alliance Investment Management Inc. lifted its holdings in shares of Steven Madden by 312.3% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 1,542 shares of the textile maker’s stock valued at $49,000 after acquiring an additional 1,168 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Steven Madden during the second quarter valued at $55,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Steven Madden during the first quarter valued at $56,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.01%. Steven Madden’s dividend payout ratio is currently 37.67%.

Steven Madden Company Profile

(Get Free Report)

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, First Cost, and Licensing segments.

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Earnings History and Estimates for Steven Madden (NASDAQ:SHOO)

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