Steven Madden (NASDAQ:SHOO) Upgraded at StockNews.com

StockNews.com upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a research note released on Wednesday.

A number of other research analysts also recently issued reports on the stock. BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a research report on Thursday, June 6th. Telsey Advisory Group reiterated a market perform rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Piper Sandler reiterated a neutral rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Wedbush reiterated a neutral rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Steven Madden presently has an average rating of Hold and a consensus price target of $44.29.

Steven Madden Trading Down 0.9 %

Shares of Steven Madden stock opened at $47.47 on Wednesday. The firm has a market capitalization of $3.48 billion, a PE ratio of 19.62 and a beta of 1.08. The firm’s 50 day moving average is $44.17 and its 200 day moving average is $42.69. Steven Madden has a 1 year low of $30.35 and a 1 year high of $48.76.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The firm had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. During the same period in the previous year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that Steven Madden will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. Steven Madden’s payout ratio is 34.71%.

Institutional Trading of Steven Madden

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after acquiring an additional 825 shares during the period. Fidelis Capital Partners LLC purchased a new position in Steven Madden in the first quarter valued at approximately $47,000. EntryPoint Capital LLC purchased a new position in Steven Madden in the first quarter valued at approximately $81,000. nVerses Capital LLC lifted its stake in Steven Madden by 3,600.0% in the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Steven Madden in the first quarter valued at approximately $170,000. 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.