Telsey Advisory Group Issues Pessimistic Forecast for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its price target cut by Telsey Advisory Group from $50.00 to $44.00 in a research report report published on Tuesday,Benzinga reports. They currently have a market perform rating on the textile maker’s stock.

Several other analysts have also issued reports on the stock. Citigroup upped their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average target price of $43.33.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $37.29 on Tuesday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 15.87 and a beta of 1.07. Steven Madden has a fifty-two week low of $36.90 and a fifty-two week high of $50.01. The firm’s 50-day simple moving average is $42.44 and its 200 day simple moving average is $44.21.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same quarter last year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.25%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

Several hedge funds have recently added to or reduced their stakes in SHOO. Illinois Municipal Retirement Fund grew its position in shares of Steven Madden by 7.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 39,892 shares of the textile maker’s stock valued at $1,696,000 after acquiring an additional 2,907 shares during the period. Bank of New York Mellon Corp increased its position in Steven Madden by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker’s stock worth $35,626,000 after buying an additional 17,173 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Steven Madden in the fourth quarter valued at $831,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Steven Madden during the 4th quarter valued at $1,786,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Steven Madden by 11.7% during the 4th quarter. Handelsbanken Fonder AB now owns 22,003 shares of the textile maker’s stock worth $936,000 after acquiring an additional 2,300 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

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.