Steven Madden’s (SHOO) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $50.00 price objective on the textile maker’s stock. Telsey Advisory Group also issued estimates for Steven Madden’s Q4 2024 earnings at $0.54 EPS, FY2024 earnings at $2.67 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $0.62 EPS and FY2025 earnings at $3.04 EPS.

A number of other equities analysts also recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Citigroup lifted their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $43.23 on Wednesday. Steven Madden has a 1 year low of $35.64 and a 1 year high of $50.01. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 18.40 and a beta of 1.08. The stock’s 50-day simple moving average is $46.43 and its 200-day simple moving average is $44.30.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, research analysts predict that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. Steven Madden’s dividend payout ratio is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after buying an additional 47,017 shares during the period. Capital Research Global Investors raised its holdings in Steven Madden by 8.6% during the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after purchasing an additional 146,324 shares in the last quarter. Geode Capital Management LLC raised its holdings in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Steven Madden by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock worth $53,731,000 after purchasing an additional 32,696 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Steven Madden by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.